AIH Supervisory Board held its following meeting

The following meeting of the Supervisory Board of Azerbaijan Investment Holding, AIH, was held under the chairmanship of Prime Minister Ali Asadov, Chairman of the Supervisory Board.

Pursuant to the follow-up tasks issued to the Order of the President of the Republic of Azerbaijan dated the 12th of February 2021, the meeting discussed the transfer of four state-owned transport companies, “Azerbaijan Airlines” CJSC, “Azerbaijan Railways” CJSC, “Baku Metro” CJSC and “BakuBus” LLC, to the management of Azerbaijan Investment Holding with the participation of the company executives.

The meeting participants also exchanged their views on the follow-up tasks issuing from the decrees and orders of the President of the Republic of Azerbaijan concerning Azerbaijan Investment Holding, including, among others, the organization of corporate management, effective and transparent operation, strengthening the financial health, ensuring sustainable development, and some other practical arrangements.  A timely and complete implementation of the tasks was set as the main requirement.

A decision was taken to submit proposals on composition of the supervisory boards of four portfolio companies to the President of the Republic of Azerbaijan.

Ruslan Alikhanov, CEO at Azerbaijan Investment Holding, made a presentation on the allocation of decision-making powers with respect to portfolio companies; the issue was then discussed in detail during the meeting.