JSC Farmak to Win in the Category «Best public corporate governance practice»
The event was held within the framework of the 5th International Forum of Corporate Secretaries 2018.
During the ceremony, results of the survey of public corporate governance practice were announced. The forum was held with the support of the Professional Association of Corporate Governance and Rating Agency IBM-Rating.
56 domestic enterprises were recommended for the award, including DTEK Zakhidenergo, Zaporizhstal, Karlsberg Ukraine, Kyivenergo, Kyivstar, Insurance Company Providna, etc. JSC Farmak won the award by scoring 88% of 100% and outrunning Ukrtelecom, Nova Poshta, Motor Sich, AXA Insurance Company, etc.
The corporate governance rating is an independent opinion of the rating agency on the quality of the system of interaction between the main groups of stakeholders and observance of their interests. "For our company, the availability and level of the corporate governance rating is an express confirmation of the quality of corporate governance, information transparency, business efficiency, the company's readiness to raise capital in the stock market", said Yuriy Syrotiuk, Corporate Secretary, Farmak JSC.
The agency carried out a survey of public corporate governance practice. In total, information about 68 companies operating in Ukraine (12 of which placed shares on foreign stock exchanges, 56 - domestic enterprises of different forms of ownership, branches of economy and organizational and legal forms) was analyzed. When developing the rating methodology, IBM-Rating took into account the best global practices of corporate governance, requirements of applicable laws of Ukraine, principles of corporate governance approved by the Organization for Economic Cooperation and Development, as well as guidelines of the Professional Association of Corporate Governance.