Foreign Experts Join Boards of Uzbek State-Owned Companies

Tashkent, Uzbekistan (UzDaily.com) — Representatives of international investment firms have joined the supervisory boards of two additional state-owned enterprises in Uzbekistan, according to data published on the Unified Corporate Information Portal.

On 5 March, at the general meeting of shareholders of Uzbekhydroenergo, a decision was made to renew the supervisory board. Former members included the Deputy Director of the Industrial Policy Implementation Department of the Ministry of Economy and Finance, Kuvonchbek Mustafoyev; Chief Specialist of the State-Owned Enterprise Corporate Governance Department, Bekhruz Shukurov; and the Director of the Energy Market Development and Regulation Agency, Sherzod Khodjaev.

The updated board now includes Alisher Miraliev, Deputy Director of the State Assets Management Agency, Nikita Kakurin, Senior Investment Manager at Franklin Templeton, and Martin Bernstein, Managing Partner at Amber Hill Capital.

Similarly, on 19 March, changes were approved at the shareholder meeting of Uzbektelecom. Departing board members included the Deputy Minister of Economy and Finance, Abdulaziz Khaydarov; Deputy Director of the Tax and Customs Policy and Revenue Forecasting Department, Umid Khamraev; and the First Deputy Chairman of UzAssets, Adamas Ilkyavicius.

New members appointed to the board include Nikita Kakurin and Martin Bernstein, along with Kristy Mine Groves representing Friends of Radnor House and Daniel Siebert representing Machinery & Equipment International Trading.

The renewal of supervisory boards reflects Uzbekistan’s ongoing efforts to incorporate international expertise into the corporate governance of its state-owned enterprises.