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Exclusive-Naftogaz CEO prepared to step down if it would facilitate debt deal

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Exclusive-Naftogaz CEO prepared to step down if it would facilitate debt deal By Reuters

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© Reuters. FILE PHOTO: The logo of Ukraine’s state energy company Naftogaz is seen outside the company’s headquarters in central Kyiv, Ukraine October 18, 2021. REUTERS/Gleb Garanich/File Photo

By Andrea Shalal

KYIV (Reuters) – The head of state-run Ukranian energy company Naftogaz is ready to step down if it would help the business to restructure its debt in the wake of Russia’s invasion, he told Reuters on Wednesday.

Vitrenko’s position came under scrutiny last month after the Ukraine government openly criticised the company’s handling of the debt restructuring request.

Naftogoz creditors have twice rejected the company’s request to defer debt payments for two years in the wake of Russia’s invasion.

“Of course, for the good of the country … if it’s about that,” Naftogaz CEO Yuriy Vitrenko told Reuters when asked if he would step aside if it would help to convince investors to back a freeze in debt payments. “I’m not married to this seat.”

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