MYKOLAIV, UKRAINE — Nibulon announced on Oct. 17 that Andriy Vadatursky has succeeded his late father, Oleksiy Vadatursky, as chief executive officer of Nibulon, one of Ukraine’s largest agricultural companies.
Oleksiy Vadatursky, the longtime owner and CEO of Nibulon, was killed on July 31 in his home during a bombing of Mykolaiv, a city in the country’s southern region, by Russian forces. His wife, Raisa Vadatursky, who was with him in their home, also was killed.
Oleksiy Vadatursky, who also was vice president of the Ukrainian Grain Association, was recognized as a Hero of Ukraine, the highest honor a citizen of the country can receive.
In a message posted on the company’s website, Andriy Vadaturskyy said the death of his father had seriously disrupted the company’s operations and core tasks.
“Our production, logistics and exporting capabilities have all been affected,” he said. “Twenty percent of the company’s assets are under occupation in the southern and eastern regions of Ukraine, and our export volumes have dropped sharply compared to previous years.”
Andriy Vadatursky said he and other company leaders are finding solutions to the many challenges facing Nibulon.
“I am pleased to say we have completed the first phase of construction of Nibulon’s newest terminal in Izmail in Odesa Region, a project started by my late father,” he said. “This will help us alleviate some of the disruption to our established export routes. Ukraine’s Minister of Infrastructure referred specifically to the new river port facility at Izmail at the Ukraine Recovery Conference held in Lugano in July. The European Union has emphasized the importance of creating new logistics routes of this kind between Ukraine and EU markets pending the restoration of Ukraine’s access to Black Sea routes.”
Andriy Vadatursky said the company’s cash flow was stable thanks to the support and flexibility of the company’s partners during this time of transition.
“While our focus is on addressing the challenges of today, we are also preparing for the opportunities of the future,” he said. “I have recruited an international advisory board to support the management team and we are introducing new corporate governance procedures in line with best international practice.”