"The management system is not working". UPG filling station chain operator appoints new CEO
Photo: Oleksandr Matyushenko / Facebook

Ukrpalletsystem, the operator of the UPG filling station network, has appointed Oleksandr Matyushenko as CEO. He informed on his Facebook page.

Mr. Matyushenko has experience in the banking sector. Since 2007, he has worked at Pivdenny Bank, where he held various positions. In 2021, he became a member of the management board and was responsible for investment and corporate banking.

As UPG's owner Volodymyr Petrenko explained in a commentary to, the appointment of a new CEO is part of a large-scale restructuring of the company's management.

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According to him, UPG is growing rapidly, and the current management system no longer corresponds to the scale of the business.

"We are growing, and soon we will start growing even faster. Objectively, our management system, designed for the current business parameters, cannot cope, and therefore it needs to be changed.", – said Petrenko.

He described the newly appointed CEO as a professional in finance, and in particular in the fuel market.

In the new management structure, Petrenko will head the Supervisory Board, which will make strategic decisions.

  • To set up a small gas station from scratch, you need to invest $1.4 million, says Petrenko. His company's format costs five times more.
  • The profit of the UPG filling station network from fuel sales is not high and amounts to 1.5-2 UAH/l.