Oschadbank’s Supervisory Board decided to appoint Sergii Naumov as CEO

On October 2, Oschadbank’s Supervisory Board made two decisions at its meeting: to terminate powers of CEO Andriy Pyshnyy from November 2, 2020 and, accordingly, to appoint Sergii Naumov as CEO from November 3, 2020. Thus, results of the open Oschadbank CEO competition, which was held earlier this year, have been implemented.

From the date of this decision, the Plan for Handover of Authority to the new Oschadbank’s CEO begins, which will to last 30 days. The purpose of this process is to keep the manageability of the financial institution with a gradual transfer of powers to the new CEO. Adopting international best practices, Oschadbank will follow a thoroughly planned procedure for transfer of powers to the new CEO of the financial institution.

The CEO change process will not in any way affect the financial institution's functioning: the Bank will operate normally. Sergii Naumov will start performing his duties on November 3, 2020.

Sergii Naumov obtained a higher education in economics and in technical fields. Also, in 2005 he received an MBA from Kassel International Management School (Germany). Sergii Naumov has 25 years of experience in the banking sphere. He held managerial positions in leading Ukrainian banks, in particular, Raiffeisenbank, Ukrsibbank, Pravex Bank and Piraeus Bank. In the last three banks, Sergii worked as the CEO for over 10 years in total.

Andriy Pyshnyy has been the CEO of Oschadbank for 6.5 years. During this time, he managed to turn the financial institution from an archaic savings bank into one of the leaders of the Ukrainian banking market. The progress of the financial institution in many areas is undoubtful: development of innovative products, development of a modern branch network, services digitalisation etc. Under the leadership of Andriy Pyshnyy, Oschadbank nearly from scratch has become one of the leaders working with micro-, small and medium-sized businesses, did a lot in NPL restructuring, achieved a historic victory over the Russian Federation for compensation of damages caused by the occupation of Crimea. The team under his leadership has created a modern brand of Oschadbank and ensured trust of Ukrainian citizens. For five consecutive years, Oschadbank has been the best bank of Ukraine according to the Financial Club influential agency.

"We thank Andriy Pyshnyy, who headed Oschadbank in a difficult time. He and his team managed to do almost impossible things: the Bank not only kept its position, but also reached a new level of competitiveness and demonstrated success in many areas of activities," said the Chairwoman of Oschadbank Supervisory Board Baiba Apine. "We believe that in the person of Sergii Naumov we have found a worthy successor, who will continue to implement plans to transform Oschadbank into a highly effective institution interesting to investors and keep loyalty of millions of Ukrainians," she added.