Maksym Tymchenko

Maksym Tymchenko (Maxim Timchenko; Ukrainian: Максим Вікторович Тімченко) (born 12 August 1975) has been the chief executive officer and chairman of DTEK Management Board since 2005. For several years, he has been named among the best senior executives in Ukraine.

Maksym Tymchenko
Born
Максим Вікторович Тімченко

(1975-08-12) 12 August 1975
Novoselitsy, Novgorod Oblast, USSR
NationalityUkrainian
OccupationDTEk ceo, chairman of the management board

Education

Maksym Tymchenko graduated with honours from Donetsk State Academy of Management (1997) with a degree in Production Management and obtained a BA degree in Economics and Social Sciences from Manchester University (UK) (1998).

Biography

Maksym Tymchenko was born on 12 August 1975 in the village of Novoselitsy, Novgorod Region, Russia, in the family of a military officer.

In 1992, after leaving secondary school 1 in the city of Donetsk, Ukraine, Timchenko enrolled in Donetsk State Academy of Management. He graduated from the Academy with honours and earned a degree in Production Management. He obtained a Bachelor of Arts degree in Economics and Social Sciences from Manchester University (UK) in 1998.

Tymchenko began his career as a consultant at PricewaterhouseCoopers (1998–2002), where in four years (from 1998 to 2002) he rose to the position of a senior auditor. He is a member of the Association of Chartered Certified Accountants (АССА).

In 2002, Maksym Tymchenko was invited by System Capital Management (SCM) to take the position of senior manager in charge of power assets of the group.

In July 2005, SCM spun off its power assets to set up a stand-alone business, which was chaired by Maksym Tymchenko. Since then Tymchenko has been the chief executive officer of DTEK, the leading Ukrainian energy company.

Married, has a son.

Career

Maksym Tymchenko has been holding managerial positions for 11 years: in 2002 he was appointed senior manager of SCM, and since 2005, he has been the CEO and Chairman of DTEK Management Board.

Management of DTEK

Maksym Tymchenko has been the CEO of DTEK since the foundation of the company in July 2005. He is also the Chairman of DTEK Management Board.

Under his supervision, the company has determined the key areas for development. Tymchenko was one of the key initiators of creating the vertically integrated chain of coal production, electricity generation and distribution within SCM Group. The vertical integration helped the company successfully overcome the global economic crisis of 2008, which proved that it had made the right choice of the business model. The vertical integration of the operating companies ensures security and provides for development even in the least favourable environment. Today DTEK is Ukraine's leading energy company with a modern governance system, employing over 140 thousand people. In 2011, DTEK was recognised as the best national employer.

Maksym Tymchenko initiated large-scale organisational changes in DTEK's governance system, involving all businesses and aimed at the improvement of the company’s efficiency and competitiveness.

Tymchenko guided DTEK's restructuring: by the end of 2012, the company adopted the new structure, which includes 13 mine groups (comprising 31 mines and coal processing facilities), seven coal processing plants, ten thermal power plants, five power supplying companies, DTEK Oil&Gas, and Botievo wind farm, the largest wind power plant in Ukraine, (the operator is Wind Power LLC), the first stage of which was commissioned in October 2012.

In 2008 and 2009, Maksym Tymchenko was recognised the best top manager of Ukraine under the Ukrainian TOP-100 rating prepared by the publishing house Ekonomika, and in 2012 and 2013 he was named first among best top managers in the Ukrainian energy sector. In 2013, Timchenko was among top ten in the 25 Best CEO rating prepared by the Forbes Ukraine.

Awards
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References
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