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Farewell after applause: Ukrexmbank dismisses the previously reinstated senior managers

At an extraordinary meeting on November 12, the Supervisory Board of Ukreximbank examined the circumstances of the incident on November 11 at the bank's head office with the participation of Ihor Telbizov and employees of the bank’s Security Department that had become the subject of public outrage. The Supervisory Board unanimously decided to appeal to the bank's Executive Board to take measures to immediately terminate labor relations with Ihor Telbizov and Oleg Osipov.

The Supervisory Board member stated that Telbizov and Osipov had proved by their actions that they were not able to properly perform their duties due to a lack of understanding of the requirements and provisions of the bank's code of ethics and corporate values, as well as a conflict between personal and bank interests.

The Supervisory Board came to the conclusion that the continued tenure of Telbizov and Osipov in their positions posed a threat to the bank's security system and its stable and continuous operation. And that, in turn, poses significant operational, compliance (potential losses and legal sanctions due to non-compliance with laws or regulations—The Page ) and reputational risks.

The Executive Board of Ukreximbank at an extraordinary meeting, having considered the recommendation of the Supervisory Board, made a unanimous decision to immediately dismiss Telbizov from the post of the Head of the bank's Security Department and Osipov from the post of the Head of the Internal Security Department. The dismissal was carried out on the basis of Clause 2, Part 1 of Art. 40 of the Labor Code, namely, on the basis of the revealed inconsistency of the employee with the position held and the work performed.

Viktoria Strakhova, a member of the Supervisory Board of Ukreximbank, posted on Facebook: "I hope that the MPs will be able to adopt the new Labor Code, and then dismissal for violation of ethical standards will be possible without the legal risks of reinstatement. Justice and legality are not always the same concepts, and the new Labor Code would help bring them together."

Context. On November 11, two Ukreximbank employees who had attacked the journalists of the TV program Schemes were reinstated. "Gaining a status of a suspect or accused in a criminal proceeding by an employee is not a legal basis for their suspension from work or termination of labor relations with them," is said in the bank’s statement.

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