Connect with us

Hi, what are you looking for?

World

Poroshenko: From chocolate baron to Ukraine president

-

Petro Poroshenko, who is almost certain to be tasked with steering Ukraine out of months of turmoil and bloodshed, is a billionaire chocolate baron, cabinet minister and occasional revolutionary.

The pro-Western tycoon won an outright victory in a presidential election on Sunday with almost 56 percent, according to exit polls.

"The first thing we must do is bring peace to all the citizens of Ukraine," he said as he cast his vote in Kiev.

He had been the clear favourite as the consensus candidate, and the polls gave him commanding lead over his nearest rival, Ukraine's "iron lady" Yulia Tymoshenko, who was considered a much more polarising figure.

The tall, slightly greying tycoon is one of the country's 10 richest men with a fortune estimated at around $1.6 billion (1.2 billion euros) by Forbes magazine, which described him as Ukraine's Willy Wonka.

A shrewd politician who has flip-flopped between governments for more than a decade, Poroshenko was the only Ukrainian oligarch to openly back the pro-European protest movement that ousted president Viktor Yanukovych, under whom he served as economics minister.

- 'End war and corruption' -

He has boldly proclaimed he is the man to save the day as the country struggles with the loss of Crimea, an armed pro-Russian insurgency in the east and threatened economic collapse.

"Soon we will end the war. Soon we will stamp out corruption. Soon we will begin European integration and establish democracy," he said Sunday.

Often seen handing out chocolates, or taking to the stage to denounce endemic corruption, Poroshenko became a favourite figure at Kiev's protest camp on Independence Square.

His ticket was further boosted when boxer-turned-opposition icon Vitali Klitschko decided against running for president himself to back Poroshenko.

He was the only politician to fly to Crimea in a bid to negotiate with pro-Russian troops who seized parliament after Yanukovych fell, but he was angrily chased off by demonstrators.

He said he was ready to talk with Russian President Vladimir Putin but said two issues were not negotiable -- Ukraine's pro-Europe direction and Crimea, which he insisted "is and will remain Ukrainian".

Having held several cabinet portfolios and built strong links across the business community, many see him as an experienced and capable pair of hands to stem an economy in freefall and unite the country.

Analysts say he is more palatable to the electorate than controversy-dogged Tymoshenko, a former prime minister who was jailed for abuse of power by the ousted regime, and other less experienced politicians.

Unlike most of Ukraine's influence-wielding oligarchs who made a killing swallowing up state assets in the chaotic years that followed the Soviet Union's fall, Poroshenko's wealth is self-made.

He started out selling cocoa beans, buying up several confectionary plants which he later united into Eastern European candy giant Roshen, which produces 450,000 tonnes of sweets a year, according to its website.

He also owns companies that make cars and buses, a shipyard and opposition television network Kanal 5 which broadcast live from Independence Square at the height of the revolution which left some 100 people dead.

Poroshenko's fortune has however taken a hit from the current political crisis and the bitter standoff with Russia, a key market.

One of the first difficulties came last year. As Ukraine neared the signing of an EU pact fervently supported by Poroshenko, Russia banned chocolate imports from his Roshen factory.

- Switching sides -

The married father-of-four was born in the small southwestern town of Bolgrad and studied economics at Kiev State University.

He entered the turbulent world of Ukrainian politics in 1998 as a lawmaker for a grouping loyal to then-president Leonid Kuchma. In 2000, the oligarch was one of the founders of Yanukovych's Regions Party.

But in 2002, he changed sides and joined forces with his close friend Viktor Yushchenko, who later became a hero of the 2004 pro-democracy Orange Revolution and president of Ukraine.

Poroshenko played a major role in the revolution which erupted when Yanukovych won the presidency in a poll widely viewed as rigged.

Under Yushchenko, Poroshenko was foreign minister and president of the central bank.

He had a famous falling out with Tymoshenko, which resulted in both of them being fired by Yushchenko. He was accused of abuse of power over the evaluation of a state metals firm, but the investigation was dropped.

And in another switch, he was appointed as economics minister by Yanukovych in 2012. Later that year he was elected to parliament as an independent candidate and had hinted at running for mayor of Kiev before the current crisis.

Petro Poroshenko, who is almost certain to be tasked with steering Ukraine out of months of turmoil and bloodshed, is a billionaire chocolate baron, cabinet minister and occasional revolutionary.

The pro-Western tycoon won an outright victory in a presidential election on Sunday with almost 56 percent, according to exit polls.

“The first thing we must do is bring peace to all the citizens of Ukraine,” he said as he cast his vote in Kiev.

He had been the clear favourite as the consensus candidate, and the polls gave him commanding lead over his nearest rival, Ukraine’s “iron lady” Yulia Tymoshenko, who was considered a much more polarising figure.

The tall, slightly greying tycoon is one of the country’s 10 richest men with a fortune estimated at around $1.6 billion (1.2 billion euros) by Forbes magazine, which described him as Ukraine’s Willy Wonka.

A shrewd politician who has flip-flopped between governments for more than a decade, Poroshenko was the only Ukrainian oligarch to openly back the pro-European protest movement that ousted president Viktor Yanukovych, under whom he served as economics minister.

– ‘End war and corruption’ –

He has boldly proclaimed he is the man to save the day as the country struggles with the loss of Crimea, an armed pro-Russian insurgency in the east and threatened economic collapse.

“Soon we will end the war. Soon we will stamp out corruption. Soon we will begin European integration and establish democracy,” he said Sunday.

Often seen handing out chocolates, or taking to the stage to denounce endemic corruption, Poroshenko became a favourite figure at Kiev’s protest camp on Independence Square.

His ticket was further boosted when boxer-turned-opposition icon Vitali Klitschko decided against running for president himself to back Poroshenko.

He was the only politician to fly to Crimea in a bid to negotiate with pro-Russian troops who seized parliament after Yanukovych fell, but he was angrily chased off by demonstrators.

He said he was ready to talk with Russian President Vladimir Putin but said two issues were not negotiable — Ukraine’s pro-Europe direction and Crimea, which he insisted “is and will remain Ukrainian”.

Having held several cabinet portfolios and built strong links across the business community, many see him as an experienced and capable pair of hands to stem an economy in freefall and unite the country.

Analysts say he is more palatable to the electorate than controversy-dogged Tymoshenko, a former prime minister who was jailed for abuse of power by the ousted regime, and other less experienced politicians.

Unlike most of Ukraine’s influence-wielding oligarchs who made a killing swallowing up state assets in the chaotic years that followed the Soviet Union’s fall, Poroshenko’s wealth is self-made.

He started out selling cocoa beans, buying up several confectionary plants which he later united into Eastern European candy giant Roshen, which produces 450,000 tonnes of sweets a year, according to its website.

He also owns companies that make cars and buses, a shipyard and opposition television network Kanal 5 which broadcast live from Independence Square at the height of the revolution which left some 100 people dead.

Poroshenko’s fortune has however taken a hit from the current political crisis and the bitter standoff with Russia, a key market.

One of the first difficulties came last year. As Ukraine neared the signing of an EU pact fervently supported by Poroshenko, Russia banned chocolate imports from his Roshen factory.

– Switching sides –

The married father-of-four was born in the small southwestern town of Bolgrad and studied economics at Kiev State University.

He entered the turbulent world of Ukrainian politics in 1998 as a lawmaker for a grouping loyal to then-president Leonid Kuchma. In 2000, the oligarch was one of the founders of Yanukovych’s Regions Party.

But in 2002, he changed sides and joined forces with his close friend Viktor Yushchenko, who later became a hero of the 2004 pro-democracy Orange Revolution and president of Ukraine.

Poroshenko played a major role in the revolution which erupted when Yanukovych won the presidency in a poll widely viewed as rigged.

Under Yushchenko, Poroshenko was foreign minister and president of the central bank.

He had a famous falling out with Tymoshenko, which resulted in both of them being fired by Yushchenko. He was accused of abuse of power over the evaluation of a state metals firm, but the investigation was dropped.

And in another switch, he was appointed as economics minister by Yanukovych in 2012. Later that year he was elected to parliament as an independent candidate and had hinted at running for mayor of Kiev before the current crisis.

AFP
Written By

With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.

You may also like:

Business

Technology leaders want to lead the AI revolution, but three quarters of their CEOs think IT is too busy putting out fires.

Business

You're renting more than you know, losing data sovereignty without noticing, and watching institutional knowledge walk out the door.

Business

Justin Riemer and Dr. Nir Katchinskiy join Edmonton's innovation agency board