On August 26, PrivatBank's Supervisory Board approved a new structure and composition of the Management Board of the bank. According to the bank's press service, the updated structure of the bank's executive management body provides the optimal composition necessary for managing the bank and successfully implementing the updated Development Strategy.

Also, based on the results of the competitive selection process, the Supervisory Board approved the appointment of Igor Lebedynets to the newly established position of Chief Restructuring and Recovery Officer where he will oversee the implementation of the good bank / bad bank split. Previously, Mr. Lebedynets served on the Management Board as Chief Regional Officer where he oversaw the successful transformation of the bank’s branch network, introducing efficient structure and modern standards of governance.

After successfully completing her almost five-year term as Deputy Chairperson of the Management Board as Chief Resolution Officer, Galyna Pakhachuk was appointed as Advisor to the Chairperson of the Management Board on Toxic Portfolio Strategy Matters.

The new Management Board structure of PrivatBank comes into force on September 01, 2021.