Before entering national politics, Serhiy Koretskyi had not built a career within party structures or government agencies. For more than two decades, he worked in the private sector, and later headed strategic state-owned companies - Ukrnafta, Ukrtatnafta, and NJSC Naftogaz of Ukraine. It was precisely his experience in crisis management that became one of the key factors leading to his nomination as a candidate for the position of Prime Minister. This was reported by Dengi.ua, citing an article by Ekonomichna Pravda.
His Сareer Began at WOG
Koretskyi’s professional career began in the late 1990s at the Continuum Group, founded by Ihor Yeremeyev and Stepan Ivakhiv. Over the course of several years, he rose from an entry-level position to CEO of the group’s management company and head of the WOG filling station network.
Under his leadership, the network expanded rapidly, launched new customer service formats, and invested in developing related business areas. It was during this period that Koretskyi earned a reputation as a manager capable of effectively scaling large companies and leading massive teams.
His Own Business After Leaving WOG
After leaving WOG in 2018, Koretskyi decided to pursue his own entrepreneurial projects. Together with partners, he founded Centurion Group SA, an energy trading company based in Switzerland specializing in physical energy resources.
Later, he became one of the co-founders of the Idealist Coffee Co. chain. The project quickly grew into a full-fledged chain of coffee shops and continues to operate today, serving as a successful example of business development outside the oil and gas industry.
Crisis Management in State-Owned Companies
In the fall of 2022, the government seized control of Ukrnafta and Ukrtatnafta, which had previously been controlled by entities associated with Ihor Kolomoyskyi. By November, Serhiy Koretskyi had taken the helm of both companies.
At that time, the companies were considered troubled and in need of a major reorganization following the change in ownership and the outbreak of full-scale war.
In a relatively short time, Ukrnafta managed to transition from chronic losses to record profitability. The company increased oil and gas production, actively expanded its network of gas stations, began modernizing its assets, and became one of the largest taxpayers among state-owned enterprises.
Naftogaz Management
In the spring of 2025, Koretskyi won an open competition for the position of Chairman of the Board of NJSC Naftogaz of Ukraine.
The new CEO took the helm during an exceptionally challenging period: natural gas reserves were at a historic low after the previous management failed to secure the necessary import volumes.
According to Ekonomichna Pravda, during his tenure, gas reserves were increased to more than 13 billion cubic meters. To achieve this, Naftogaz raised nearly $1 billion in its own funds, as well as €1.57 billion in financing from the European Bank for Reconstruction and Development, the European Investment Bank, and state-owned banks.
However, the goal of increasing domestic gas production could not be fully achieved due to regular, massive Russian strikes on gas production infrastructure.
Management Style
Sources within the government and at Naftogaz itself describe Koretskyi’s management style as being as close to corporate practice as possible. According to them, he is not prone to micromanagement, makes decisions quickly, and prefers to delegate authority to a strong executive team.
One of the publication’s sources notes that Koretskyi is not afraid to bring in specialists who surpass him in certain professional areas, and he considers concrete results to be the main criterion for evaluating performance.
One of his first decisions after joining Naftogaz was a large-scale optimization of the company’s organizational structure. Following an internal audit, redundant functions were eliminated, headcount was optimized, and certain management processes were restructured. Although these decisions sparked mixed reactions within the company, their supporters believe that they were precisely what enabled the company to improve its operational efficiency.
The Main Challenge: Governing the Country
Now, Serhiy Koretskyi must apply his accumulated experience not just within a single enterprise, but at the national level. While success in business depends primarily on the quality of management decisions, leading the government adds the need to interact with parliament and international partners, as well as to seek compromises among various political centers of influence.
According to the authors of the article, the ability to combine a business-oriented approach, the effectiveness of a crisis manager, and the demands of public policy will be the ultimate test for the new head of government.