New CEO Appointed at Kyivenergo

This Tuesday the supervisory board of Kyivenergo (KIEN: HOLD) relieved Borys Yashchenko as CEO and appointed Serhiy Titenko in his stead. Titenko is an MP from the Party of Regions and former head of the National Electricity Regulation Commission. Alexander Paraschiy: The media connect Titenko to Rinat Akhmetov, thus the appointment demonstrates the high interest of DTEK in Kyivenergo (see our Sept. 2007 report). We believe the appointment of the new CEO could be positively reflected in the company’s ability to lobby for increased heating and electricity tariffs.