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"Ukrzaliznytsia and Deloitte experts identified the first steps for implementing the corporate governance action plan approved by the government in December 2018. It was developed to create a modern, effective model of company management," Kravtsov said, the Ukrzaliznytsia press service reported.

According to him, the action plan sets the generally accepted standards of corporate governance, which for international investors is one of the main indicators of the company's efficiency.

"We have reached one of the largest corporate deals in the independent country - corporatization of the company. Despite skepticism, centralization has given its positive result. Successful implementation of the action plan will allow us to win investor confidence in Ukrzaliznytsia, facilitate attraction of funds in foreign markets and reduce the cost of these borrowings," Kravtsov said.

In turn, Kostiantyn Marievych, a member of the Supervisory Board of Ukrzaliznytsia and the head of corporate governance committee, noted that after a long work on the development of the action plan, there should be a transition to system implementation. According to him, for this purpose, in particular, persons in the company responsible for implementation of the project were selected and the format of implementation and further measures were agreed upon.

He also stressed that the current coordinated interaction between the shareholder, the Supervisory Board and the Board will ensure achievement of the goal - bringing the system of Ukrzaliznytsia corporate governance in line with best international practices.

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