Ukraine-based industrial group Smart Holding recently announced a new round of restructuring. Founded by Vadym Novynskyi, Smart Holding has seen several major adjustments to ensure operations run as efficiently as possible. Due to Novynskyi’s wish to pursue private interests, he has put his ownership stake in the company in a trust. As such, he has disposed of his shares and left full responsibility in the hands of his management team.
According to a statement on Smart Holding’s website: “As part of the restructuring, the founder of Smart Holding, Vadym Novynskyi, decided to transfer assets to a trust. The corresponding Smart Trust and Step Trust agreements were concluded in November 2022 and registered by the Cyprus Securities and Exchange Commission.”
Pursuing Private Interests
Vadym Novynskyi hasn’t taken part in either running or managing Smart Holding for nearly a decade. Today, the trustees own and manage the assets of the group.
The trustees have been appointed in full accordance with Cypriot legislation and the administrators meet all qualifications necessary to manage and grow the organization’s net worth. While Vadym Novynskyi can no longer exercise control over the processes of Smart Holding, the day-to-day changes will be minimal. The group will be run by the same leadership team.
Navigating the Business
The humanitarian and economic cost of Russia’s assault has been harrowing for Ukrainians. Smart Holding has committed itself to defending the homeland and supporting both military members and civilians alike. Julia Kiryanova, CEO of Smart Holding, said, “Smart Holding has a mission to support the Ukrainian economy to withstand the devastation of the war and will actively participate in the post-war reconstruction.” She expressed complete confidence in Smart Holding’s ability to weather the storm. “We also have ambitious investment goals as part of our growth strategy internationally. We believe that with the talent and experience that we have accumulated in the management team, the company will rebuild its assets and come out stronger.”
Vadym Novynskyi founded one of the largest and most profitable investment groups in Ukraine. This restructuring is aligned with international best practices, and its new corporate governance structure is being carefully constructed to not only stabilize the company, but actively maximize its value during these uncertain times. The goal is to leverage the firm’s diversified portfolio as much as possible so it’s in the best position as soon as the war wraps up.
Vadym Novynskyi: Self-Made Man
Immigrating from Russia in the 1990s, Novynskyi made a name for himself in the oil, mining, and real estate sectors, among others. He’s taken it upon himself to invest in companies that secure a better life for Ukrainians via stable salaries and benefits. The companies in his portfolio ensure the well-being of workers and their families, and his unification of different industries helps communities thrive. Smart Holding has continuously looked for new business opportunities that are aligned with the larger values of the organization and designed to drive the economy of Ukraine.
In addition to being a tycoon, Novynskyi has served in the government as the people’s deputy of Ukraine, authoring or co-authoring dozens of draft laws. He has been a citizen of the country since 2012 and was a member of Parliament until 2022, and his legislation was written to improve the lives of average citizens. Because he was not registered with a specific party, Novynskyi focused on the people he served. Some of his most impactful laws have included a commitment to help displaced people and protect the religious rights of those living in occupied territories. He’s also a celebrated philanthropist and a driving force for peace during the current violent war.