Galnaftogaz EGM Brings CEO of Ukrainian EBRD to Supervisory Board

At yesterday’s EGM, Galnaftogaz (GLNG: U/R) shareholders voted to replace two members of the supervisory board, and made no changes to the management board. Kamen Zakhariev, CEO of the European Bank of Reconstruction and Development in Ukraine, replaced Marcus Buechel, the president of F.I.E.H., Galnaftogaz’ shareholder company. The EBRD is one of the company’s largest creditors, while F.I.E.H. remains its controlling shareholder.