Kononenko began his business career as a Commercial Director for both JSC Exchange House “Ukraine” and MP “Transport in 1991. Three years later he joined the Ukrprominvest (Ukrainian Industrial and Investment Concern CJSC) where he remained for 10 years. His first position there was Deputy, then he became First Deputy General Director and finally he was appointed to First Vice President. In 2004 he became Chairman of the Supervisory Board of OJSC Kiev Motor Transport Enterprise – 2240.
In 2012 Ihor Kononenko became chairman of the Supervisory Board of PJSC Closed-End Non-Diversified Corporate Investment Fund VIC which owns seven companies in the fields of construction, hospitality, trade and sports. He is also a shareholder of VIK Closed-End Non-Diversified Corporate Investment Fund (VIK Closed-End Non-Diversification Corporate Investment Fund).