AzerGold Supervisory Board holds first meeting

The Supervisory Board of AzerGold Closed Joint-Stock Company (CJSC), reorganized and approved by order of the President of the Republic of Azerbaijan on February 22, 2021, held its first meeting this year.

The Supervisory Board meeting, chaired by Rovshan Najaf, Deputy Minister of Economy of the Republic of Azerbaijan and Chairman of the AzerGold CJSC Supervisory Board, was held via video conference. Zakir Ibrahimov, Chairman of the AzerGold Board of Directors, and other members of the Supervisory Board attended the meeting.

At the outset, the Chairman and members of the Supervisory Board expressed their gratitude to President Ilham Aliyev for his confidence in them.

Supervisory Board Chairman Rovshan Najaf noted that AzerGold has achieved significant success in the mining sector in a short time and is now one of the leading exporters in Azerbaijan's non-oil sector. The public company is currently entering a new stage of development. The Supervisory Board will strive to increase the Company's operational efficiency in line with best practices and modern management requirements and to improve its management by incorporating modern corporate governance standards. To this end, the Supervisory Board will cooperate with the AzerGold CJSC Executive Board.

The meeting discussed the implementation of follow-up tasks arising from relevant decrees and orders of the President of the Republic of Azerbaijan, including the principles of AzerGold's corporate management system, the organization of the Supervisory Board, and the functions of Azerbaijan Investment Holding in the company's management system.