Maksym Timchenko

Maxim Timchenko (also spelled Maxim Timchenko and Maksym Tymchenko; Максим Вікторович Тімченко; born 12 August 1975, in the town of Novoselitsy, Novgorod oblast) is chief executive officer of DTEK. He has headed the company since its foundation in 2005.

Maxim Timchenko is a member of the Electricity Governors community, which brings together business leaders and partner organizations from the World Economic Forum.

Education
Timchenko graduated with honours from the Donetsk State Academy of Management, majoring in Production Management. He continued his education at the University of Manchester, where he obtained a diploma with honours and a Bachelor of Arts degree in Economic and Social Studies.

In 2011, he successfully completed the joint Executive Development Programme – Energy of a Leader – run by the DTEK Academy and the London Business School. He is a member of the Association of Chartered Certified Accountants (ACCA).

Career
Maxim Timchenko started his career in 1999 at PricewaterhouseCoopers, where he was promoted from consultant to lead auditor. Between 2002 and 2005, he worked as a senior manager at SCM; he supervised the work of SCM's energy business until it spun off into DTEK.

Managing DTEK
Timchenko has been DTEK's chief executive officer since its founding in July 2005. He promoted the establishment of a vertically-integrated chain of companies within the SCM Group. DTEK's subsidiaries operate in the areas of coal mining, and electricity generation and distribution, which allowed the company to overcome the 2008 global economic crisis. The vertical integration provided the company with necessary financial security and development opportunities, even in adverse conditions. To date, DTEK is Ukraine's leading and biggest private investor in the energy sector, and its subsidiaries are involved in coal and natural gas extraction; electricity generation from wind, solar, and thermal power plants; energy resources trading in national and international markets; distributing and supplying electricity to consumers; providing energy efficiency services to customers; and developing high-speed charging station networks. In each of DTEK's distinct business areas, production companies are merged into operating holding companies. According to Deloitte, DTEK is among the top ten most dynamic companies in Central and Eastern Europe.

In 2020, Timchenko presented DTEK's new 2030 strategy, based on ESG principles, as well as plans and actions for DTEK's transformation into a modern digital company.

DTEK is among the leaders in Ukrainian Companies' Transparency Index 2020.

Stop Bloody Energy
Since the very beginning of the 2022 Russian invasion, the DTEK Group together with NJSC Naftogaz and Ukrenergo initiated the Stop Bloody Energy project, within which they call on Western companies to stop cooperation with Russia in the energy sector. With the help of this initiative, Ukrainian companies want to show the international community that representatives of global business still continue to work with Russia, despite the war in Ukraine. The project website contains information about gas, coal trading, oil service and machine-building companies.

The Japanese company Komatsu, one of the world's largest manufacturers of special equipment, stopped working with Russia after the company was put on the Stop Bloody Energy list.

As part of the Stop Bloody Energy initiative, at the beginning of May 2022, more than 100 Ukrainians gathered near the head office of the French company Engie with the demand to terminate gas contracts with Russia.

Also, activists from Ukraine and Europe within the framework of the Stop Bloody Energy initiative held a protest in Davos during the World Economic Forum against the energy business that continues to operate in the Russian Federation.

Restoration of the energy infrastructure during the war
Since the first day of Russia's full-scale invasion of Ukraine, DTEK has been repairing networks destroyed by shelling, and keeps working on restoring the electricity supply. On May 18, DTEK specialists returned 100% electricity to the Kyiv region, which was liberated from the Russian military on April 2, 2022. Electricity was supplied to the homes of 260,000 families in 600 settlements through high-voltage and distribution networks owned by the company.

DTEK Group invested ₴300 million in the restoration of war-ravaged electrical networks of the Kyiv region. DTEK involved its specialists from Odesa and Dnipropetrovsk regions in order to restore the power supply of the Kyiv region. In total, 1,000 energy workers from different parts of the country worked on restoring the electricity.

DTEK energy workers restore electricity supply in the Donetsk region every day, despite constant hostilities. In general, as of June 2022, electricity has been restored in more than 2.8 million homes throughout Ukraine. The all-Ukrainian program for repairing networks and restoring energy infrastructure during the war was called "We are returning the light".

Heroes of the energy front
In order to maintain the power system and restore the energy infrastructure, DTEK energy workers and miners work in extremely dangerous conditions - in the zone of active hostilities, often under fire - to restore electricity supply to the population and extract coal for the country.

Since February 24, 2022, 51 DTEK Group employees have died, and 99 people have been injured. To honor the heroic work of energy workers who risk their lives every day, DTEK Group initiated the "Heroes of the Energy Front" project. The project's website collects stories of energy workers who continue to work heroically in wartime conditions.

Also in May 2022, the Cabinet of Ministers awarded DTEK energy workers working in combat conditions with an honorary certificate "For Courage". Energy workers of DTEK Donetsk power grids were awarded certificates of honor of the Cabinet of Ministers for personal courage and selfless actions during emergency restoration work on electric power transmission lines that were damaged as a result of hostilities in Donbas, and rescuing people during the war.

Humanitarian aid and support of the Armed Forces
Since the beginning of Russia's full-scale invasion of Ukraine, DTEK Group has been purchasing protective equipment for the military, medicines and grocery kits for Ukrainians, as well as supporting internally displaced persons.

As of June 2022, DTEK Group has sent more than 500 million hryvnias to support the Armed Forces of Ukraine, territorial defense forces and humanitarian aid.

The company provided more than 50,000 liters of fuel and 450 tons of coal for evacuation trains, more than 20,000 units of medicines to the Armed Forces and communities. Batches of portable radios and communication systems, batches of tourniquet harnesses, generators and drones were purchased and transferred.

The DTEK company ensured the evacuation of about 5,000 of its employees and their family members from combat zones.

In total, during the full-scale war, the company transferred 158 vehicles from its own fleet, including SUVs and mini-buses, which are used for public defense tasks.

Free electricity for hospitals and the military
Since the beginning of Russia's full-scale invasion of Ukraine, DTEK Group has been providing free electricity to critical infrastructure institutions, state and communal medical institutions, military and law enforcement agencies. In four months, the DTEK Group provided free electricity worth ₴160 million to about 100 establishments. In particular: Institute of Traumatology and Orthopedics of the Medical Academy of Ukraine, Dnipropetrovsk Regional Clinical Hospital named after I.I. Mechnikov, Dnipropetrovsk Regional Center of Emergency Medicine and Disaster Medicine, Kurakhiv City Hospital, etc.

Social activity
Since 2019, Timchenko has been a member of the UN Global Compact on Ukraine's Supervisory Board. He leads Academy DTEK's MBA project commission, suggesting non-standard formats for training projects, as well as developing Ukraine's educational ecosystem.

Awards

 * Ranked in the top ten in the TOP-100. Best Top Managers of Ukraine 2010 rating of the publishing house Ekonomika
 * Best top manager of Ukraine in the nomination Change Management in the Organisation 2010 in the TOP-100 rating of the publishing house Ekonomika
 * Best top manager of Ukraine in the Energy 2012-2013 category in the TOP-100 rating of the publishing house Ekonomika
 * Best top manager of Ukraine in the M&A Leader 2013 nomination in the TOP-100 rating of the publishing house Ekonomika
 * Ranked in the top ten of the 25 Best СЕО rating of Forbes Украина
 * In 2021 topped the rating of the best managers in Ukraine according to the magazine "TOP 100. Ratings of the largest"

Publications

 * Europe can replace its lost Russian energy supply with this surprising partner (WEF)
 * Help Ukraine now, and it could power Europe later (Atlantic Council)
 * Ukraine is ready to support the reinvention of European energy security (Euractiv)


 * The Future of the Ukrainian Energy Sector. Interview with Maxim Timchenko, the CEO at DTEK
 * Interview with DTEK's CEO Maxim Timchenko to RBC Ukraine
 * DTEK CEO Maxim Timchenko: Directionless Lobbying is not the way to create a business (RBC)
 * Mounting crisis: The DTEK story, as told by Maxim Timchenko (Kyiv Post)
 * Ukraine must work with leading nations to build sustainable energy markets (WEF)
 * Maxim Timchenko: Environmental, social and corporate governance — the new bedrock for business (Kyiv Post)
 * Maxim Timchenko: Energy for a new Ukraine (Kyiv Post)