12/11/2021

November 12, 2021 The Supervisory Board of Ukreximbank JSC at its extraordinary meeting, having studied the circumstances of the incident that took place on November 11, 2021 in the head office of the Bank with the participation of Telbizov I.G. and employees of the Security Department of the Bank and became the subject of public outrage, decided unanimously to appeal to the Board of the Bank to take measures to immediately terminate the employment of Telbizov I.G. and Osipov O.L.

During the meeting, members of the Supervisory Board stated that by their actions Telbizov I.G. and Osipov O.L. proved that they are unable to properly perform their duties as per their job description due to, inter alia, the lack of understanding of the requirements and provisions of the Bank’s Code of Ethics and Corporate Values and the existence of a conflict between personal interests and the interests of the Bank.

Members of the Supervisory Board came to the conclusion that the further stay of Telbizov I.G. and Osipov O.L. in their positions poses a threat to the entire security system of the Bank and to its stable and continuous operation as a whole, which creates significant operational, compliance and reputational risks.

The Board of JSC "Ukreximbank" at its extraordinary meeting, having considered the recommendation of the Supervisory Board, took a unanimous decision to dismiss Telbizov I.G. from the position of the head of the Security Department of the Bank and Osipov O.L. from the position of the head of the Internal Security Department on the basis of para 2) part 1 of Art. 40 of the Labor Code of Ukraine, namely on the basis of the identified professional incompetence with regard to their positions.