21st July 2017

PrivatBank Supervisory Board appoints Galyna Pakhachuk as acting Chairman of Management Board

The PrivatBank Supervisory Board has appointed Galyna Pakhachuk as acting Chairman of the Bank’s Management Board. During the meeting on July 20, 2017, members of the PJSC CB "PrivatBank" Supervisory Board agreed to Oleksandr Shlapak's request to resign from the post of Chairman of the Management Board. Galyna Pakhachuk, a member of the Management Board, was appointed acting Chairman of the PrivatBank Management Board.

On July 12, the PrivatBank Supervisory Board informed that Amrop Executive Search Ukraine, a well-known internationally recognized company, had been appointed to find candidates for the vacancies of Chairman of the Board (Chief Executive Director) and the First Deputy Chairman (Financial Director) of PJSC CB "PrivatBank".

According to the Bank Supervisory Board, the Chairman of the PrivatBank Board Oleksandr Shlapak has fully fulfilled the tasks to stabilize the situation in the Bank, conduct an audit of the Bank's financial condition, and completed his anti-crisis tenure as the Chairman of the Board of PJSC CB "PrivatBank".

"Oleksandr Shlapak accepted the challenge to head the largest bank in the country right after its transition to state ownership in a period of great risks and uncertainties," is noted in the message of the Bank Supervisory Board. “Thanks to the successful anti-crisis management programme under the leadership of Mr Shlapak, the Bank has been stabilized and its sustainable development was ensured. PrivatBank continues to retain its leadership position as the most technologically advanced bank in Ukraine, introduce innovative products and provide the best customer service."

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