From Private Business to Leading State-Owned Companies: Who Is Ukraine’s New Prime Minister?

Ukraine’s parliament approved the appointment of Serhii Koretskyi as the country’s new prime minister on July 16. His candidacy received the support of 289 lawmakers, paving the way for the formation of a new government following the resignation of the previous cabinet.

The government reshuffle process began this week after parliament accepted Prime Minister Yuliia Svyrydenko’s resignation on July 15, which also led to the resignation of her entire cabinet.

Serhii Koretskyi is a Ukrainian executive with a long career in the energy and private sectors.

Since 2025, he has served as chief executive officer of Naftogaz, Ukraine’s largest state-owned oil and gas company.

Before that, Koretskyi had built extensive experience leading private companies and state-owned energy enterprises.

He holds three university degrees: in Vehicles and Automotive Engineering, Business Economics from Lutsk Technical University, and Oil and Gas Production from the Ivano-Frankivsk National Technical University of Oil and Gas. In 2019, he also completed an executive business administration programme at the Kyiv-Mohyla Business School.

From private business to leading state-owned companies

Koretskyi worked for nearly two decades at Continuum Group (1997–2018), where in 2013 he became head of the WOG fuel station network. During his leadership, the company expanded its services and developed new business models, including the expansion of its cafe sector.

He later launched his own ventures, including the IDEALIST cafe chain and the Swiss energy trading company Centurion Group SA. In November 2022, Koretskyi was appointed head of Ukrnafta and Ukrtatnafta, where he led projects to modernise equipment and launch new drilling projects. In April 2025, Naftogaz’s supervisory board appointed him as the company’s chief executive officer.

The challenges of leading Ukraine during the war

Koretskyi takes over the Ukrainian government at a difficult time, as Russia has intensified missile and drone attacks on Ukraine’s energy infrastructure. The attacks have caused major damage to the gas sector and affected the country’s daily production.

His appointment is seen as a choice that brings a figure with management and energy-sector experience to the head of government at a time when Ukraine faces major economic and security challenges.