Ukraine Defense Industry Shake-Up Continues

Herman Smetanin has stepped down as chief executive of Ukraine's state-owned defense conglomerate Ukroboronprom, the company announced on Tuesday. Smetanin did not give a reason for his resignation.

His departure comes a week after a Russian strike in the Kyiv region triggered an explosion at one of the company's ammunition depots. Following the incident, President Volodymyr Zelensky said officials responsible at Ukroboronprom would face consequences. Earlier this month, two other senior company officials were also dismissed.

Ukroboronprom said it has begun the search for a permanent successor. Serhiy Bojev, a former deputy defense minister, has been appointed acting chief executive.

Ukroboronprom is Ukraine's largest state-owned defense manufacturer, bringing together around 100 companies producing weapons and military equipment. Since Russia's full-scale invasion in 2022, the conglomerate has significantly expanded production. Ukrainian officials estimate the country's defense industry now has the capacity to manufacture military equipment worth up to $50bn annually.

(Reuters, Lud)