AzerGold CJSC to Start Implementing New Corporate Management Standards

AzerGold Closed Joint Stock Company (CJSC), which has arranged its activity according to advanced international practice and modern corporate management requirements since its establishment, successfully continues to improve efficiency in this field. As a result of the work done in this field for the past period, the Joint Stock Company’s new corporate management standards have been prepared and approved by the Supervisory Board of Azerbaijan Investment Holding (AIH).

The new Standards approved guide the activity of AzerGold CJSC’s management have been developed based on the national law, Corporate Governance Principles and Guidelines on Corporate Governance in State-Owned Enterprises of the Organization for Economic Cooperation and Development, as well as the local and global best corporate governance practices.

The corporate management standards determine the basic principles and goals of CJSC’s activity, based on sustainable development, efficiency, promptness, and transparency. Thus, the requirements of the new Standards will be considered when assessing CJSC’s activity by the AIC, for which purpose, it will be monitored and reported to the Supervisory Board. The report will be approved by the Supervisory Board and published as part of CJSC’s annual reports.