Anna attended the session “Corporate Governance: Solutions for Reconstruction and Development” and shared NIBULON's experience in implementing a new corporate governance system.”After the tragic death of Oleksiy Vadaturskyy, NIBULON’s founder and CEO, the company faced the need for a comprehensive restructuring of its governance system. Challenging times demand specific measures. NIBULON works with foreign partners, including financial institutions, making it crucial for the company to have a clear, understandable corporate governance system aligned with the best global practices.Andriy Vadaturskyy, who took over the company last year, advocates for progressive approaches to corporate governance which provide for a team-based approach to managing the company. A number of amendments to the Law of Ukraine “On Limited Liability Companies”, which came into effect in 2023, provided an opportunity to apply a new approach to corporate governance.NIBULON decided to introduce a one-tier board of directors, comprising non-executive directors and independent executive directors. The company is undergoing a transformational period. Importantly, the EBRD supports this project.One of the main today’s tasks is to effectively engage the executive and non-executive directors and distribute responsibilities and liability among them. I would like to emphasize that NIBULON is the first Ukrainian company to implement legislative novelties regarding a one-tier corporate governance system. Undoubtedly, we face a lot of challenges, such as difficulties in finding directors' liability insurance due to a lack of offers from insurance companies during the state of war, absence of a stable practice, and immaturity of legislation on this matter. We hope for fruitful cooperation with lawmakers to make necessary changes during the practical implementation of the new governance system.Being the first is not easy, but we believe in the progressiveness of this new approach. We work diligently and we are confident in our success”, said Anna Lazurenko.