Volodymyr Kostiuk to Temporarily Head Farmak JSC

On 16 March 2018, Augustin Dubnička resigned from the position of Executive Director of Farmak JSC for family reasons. Volodymyr Kostiuk, Chief Operations Officer of Farmak JSC, will be temporary acting Executive Director of the Company.

“We have many times reiterated that Farmak JSC has chosen a European way of its development. Therefore, it was decided to appoint as Executive Director a person experienced in management of a European company, capable of evaluating internal processes and considering the Company's operations from the other standpoint, based on his own experience.

Thus, Augustin Dubnička joined our Company. For the period of his work, we ascertained that we have selected a right vector of development and that the Company's internal processes meet the expectations of the European market. We were right about Augustin and ourselves. However, now, unfortunately, Augustin has to leave Farmak JSC for personal reasons. Still, this will not change our Company’s commitment. We continue developing towards our priority direction, improving production and expanding the map of our presence. Within a short period of time, Augustin managed to gain a deep insight of the Company's work, shared with top managers an invaluable experience of communication and defending projects in English, organized the preparation of the budget and successfully defended the action plan for 2018. We have set the starting point, the goal and the pace. All we have to do now is to move forward for this goal to achieve”, said Filya Zhebrovska, Chairman of the Supervisory Board, Farmak JSC.

Since 17 March, Volodymyr Kostiuk, Chief Operations Officer of Farmak JSC, will be temporary acting Executive Director of the Company.

Volodymyr Kostiuk has worked for Farmak JSC since 2008 holding different positions, such as assistant General Director, Head of Workshop No. 3 of the Production Department of the Operations Directorate. In June 2015, he became Chief Operations Officer of the Company.

Volodymyr Kostiuk worked to establish contacts with foreign partners, develop international cooperation with pharmaceutical enterprises, took part in clinical studies of Farmak's medicines in Europe, Canada, and the US. He headed a team responsible for operation of the business automation system - SAP ERP. He was also responsible for the development and implementation of the Company's strategy for manufacturing operations.

In 2009, V. Kostiuk graduated from the Taras Shevchenko Kyiv National University with a degree of Master of Economics and major in “Economic Cybernetics”.

He obtained his MBA degree at Donau Universitat Krems (Austria).

In 2014, he became on-job postgraduate student of the Department of Social Pharmacy at the National Pharmaceutical University.

As a postgraduate student, Volodymyr Kostiuk highlighted a wide range of scientific researches. The results of his research work are published in professional periodicals and summaries of scientific and practical conferences. He is an author and coauthor of 17 published works, amongst 2 methodological recommendations approved by the Problem Commission "Pharmacia" of the Ministry of Health of Ukraine and the National Academy of Medical Science and endorsed by the Ukrainian Center for Scientific Medical Information, Patent and Licensing Work, 7 articles in the professional scientific periodicals (2 of which were published abroad) and 8 report summaries. The results of Volodymyr Kostiuk's thesis were presented at international congresses and conferences.

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