Ukraine: McKinsey’s Oleksandr Kravchenko appointed as Minister of Economy & Environment
Oleksandr Kravchenko, Managing Partner of McKinsey & Company’s Kyiv office, has been appointed as Ukraine’s Minister of Economy & Environment. Kravchenko brings decades of experience in strategy, transformation and the energy sector to a government tasked with rebuilding the country while managing the ongoing impact of war.
The appointment of Kravchenko was confirmed by the Verkhovna Rada as part of a broader government reshuffle, which saw the formation of a new cabinet under Prime Minister Sergii Koretskyi. The move comes at a pivotal moment for Ukraine, with economic resilience, energy security, reconstruction and European integration among the government’s highest priorities.
The newly appointed minister succeeds Oleksii Sobolev and inherits a wide-ranging remit. Ukraine’s economy continues to face enormous pressure from the war with Russia, including damaged infrastructure, disrupted energy supplies and the need to attract large-scale private investment. At the same time, the country is preparing for long-term reconstruction and closer integration with the European economy.
In announcing his appointment, Kravchenko highlighted three key priorities: “strengthening our economy, mobilising private investment, accelerating reconstruction, and supporting Ukraine’s long-term integration into the European economy.” He added that while Ukraine faces “extraordinary challenges”, it also has “extraordinary opportunities”.
A consultant with deep energy expertise
Kravchenko brings a background that combines corporate leadership, financial expertise and management consulting. Born in Boryspil near Kyiv in 1983, he studied at Kyiv National Economic University and later earned an MBA from London Business School in 2012.
He began his career at Austrian building materials company Wienerberger, where he progressed from management controller to CFO and member of the board of directors. In 2008, he joined McKinsey & Company, initially working in the firm’s Moscow office before moving to McKinsey’s Kyiv office in 2012.
Over the following years, Kravchenko rose through the ranks of the global consulting firm, becoming a partner in 2017 and Managing Partner of McKinsey’s Ukraine office in 2021. He also led the firm’s Energy & Materials practice in Central and Eastern Europe and was a member of McKinsey’s global Metals & Mining practice.
During his consulting career, Kravchenko worked with clients across Ukraine, Europe and the Middle East, advising organisations on strategy, operational transformation and large-scale change programmes. His sector expertise in energy, raw materials and industrial transformation is expected to be particularly relevant as Ukraine focuses on rebuilding critical infrastructure and strengthening energy independence.
Beyond his consulting role, Kravchenko has been involved in Ukraine’s economic development ecosystem as a board member of the Kyiv School of Economics, an institution closely involved in research and policy discussions around the country’s recovery.
From advising reconstruction to leading it
Kravchenko is no stranger to Ukraine’s reconstruction efforts. McKinsey & Company was among the advisory firms involved in supporting discussions around the country’s recovery strategy, including preparations connected to the Ukraine Recovery Conference in Lugano in 2022.
His appointment reflects a broader trend of Ukraine bringing private-sector expertise into government roles, particularly in areas requiring investment mobilisation, reform and international cooperation. Lawmaker and Kyiv School of Economics lecturer Yaroslav Zheleznyak described Kravchenko as someone who “fully understands the business world”, adding that he is a “man of action” with strong knowledge of economic affairs.
