Rostyslav Vovk at Business Thinkers Forum 2025: How to Build an Effective Corporate Governance Model—Not Just Imitate One

Today, many companies talk about corporate governance. But how can you tell if it truly works and isn’t just a slide in a glossy presentation? What hidden pitfalls might arise along the way? And most importantly, how do you know when it’s time to hand over part of your authority?

These are the kinds of questions that mark the beginning of a real governance system, not its imitation.

At the Business Thinkers Forum 2025, organized by KA Group, Rostyslav Vovk, CEO and co-owner of Kormotech, shared how this process is unfolding in his company. The forum brought together entrepreneurs and strategists for an open conversation about how to survive challenges and grow stronger through them.

“We started thinking seriously about building a Board when we realized two things,” Rostyslav explained.
“First, we are the second generation of owners. It’s time to think about how we’ll pass the business on.
Second, we needed a different scale of thinking and experience to take the company to a global level that aligned with our new strategy.”

In 2024, Kormotech and Enzym Group launched a joint Board of Directors. It comprises nine members, including independent directors with years of experience on other company boards. The selection process took over a year and a half to find experts and those who share our values, understand our culture, and are willing to ask uncomfortable but necessary questions.

“In 18 months, we’ve held five Board meetings, made dozens of critical decisions, and clearly defined our growth vectors. This is not about bureaucracy — it’s about foresight,” Rostyslav added.

Corporate governance is not about control. It’s about conscious responsibility. A Board is not simply leadership — it’s governance. It’s about looking decades ahead and asking yourself: Are you building a company for short-term gains or future generations? The answer determines everything — your structure, decision-making principles, and willingness to share power.

According to Rostyslav, the hardest part is not forming the Board but overcoming the internal barrier of ownership.

The moment you admit that not everything must stay under your personal control. A company’s strength is not in the founder’s superheroism — it’s in the ability to delegate, trust, and build a team. If you’re afraid to let go, you’re holding back the company’s growth potential.

“We’re not building a company to sell. We’re building it for the next 100 years, so that it continues to thrive. And when we pass it on, we want it to be not a burden, but a responsibility and an opportunity for future development,” Rostyslav concluded.