Baku Metropolitan Supervisory Board held its first meeting

The first meeting of the Supervisory Board of Baku Metro CJSC, which was established by the Order of the President of the Republic of Azerbaijan dated the 30th of March 2021, was held.

The meeting, chaired by Deputy Minister of Economy and Chairman of the Supervisory Board, Elnur Aliyev, was attended by members of the Supervisory Board, Chairman of Baku Metro Board of Directors, Zaur Huseynov, and other officials of Baku Metro CJSC.

At the outset, the Chairman and Members of the Supervisory Board of Baku Metro thanked President Ilham Aliyev for his confidence in them.

 At the meeting, Supervisory Board Chairman Elnur Aliyev noted that Baku Metro plays an important role in the country’s transport sector as a state-owned company engaged in the transportation of passengers by subway, while ensuring the development of the subway by strengthening its material and technical base and constructing new subway lines and stations. Significant work has been done in recent years to improve the Baku Metro, which has a large public transport infrastructure in Baku, to modern standards and to apply new equipment and technologies. The main task now is to continue and strengthen these steps at the level required by the new stage of economic development. At the new stage, it is especially important to improve management and control mechanisms, increase the sustainability of activities and promptly eliminate organizational issues that may arise.

The main task of the Supervisory Board is to take steps to improve and further develop the performance capabilities of Baku Metro. Elnur Aliyev expressed his confidence that the Supervisory Board is working in cooperation with the Board of Directors, and as part of best practices and modern management, will work to increase efficiency and improve its management, taking into account modern corporate management standards.

Chairman of Baku Metro CJSC Zaur Huseynov then spoke on topical issues that focused on the activities of Baku Metro. He expressed his confidence that the establishment of the Supervisory Board will be the beginning of the future success of Baku Metro against the backdrop of new economic challenges.

The meeting also heard a presentation by member of the Supervisory Board and Deputy CEO of Azerbaijan Investment Holding, Zaur Gurbanov, on the principles of the corporate management system of Baku Metro, including the functions and powers of the Supervisory Board. Discussions were held on the measures to be taken to ensure the implementation of the tasks issuing from the decrees and orders of the President of the Republic of Azerbaijan.