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11 December, Monday

Ufa   °

Bashkir railway will operate under the corporate code

Economy/Business

UFA, 13 July 2015. /Bashinform News Agency, Sergey Zakharov/.

Bashkortostan Suburban Passenger Company implements corporate governance code. This was reported during a meeting of the Coordinating Council of the Kuibyshev Railway by the General Director of JSC "Bashkortostan Suburban Passenger Company" Igor Polyaev.

The code is a set of tools to manage risk and to establish internal control. A year ago, the Central Bank of Russia initiated its implementation. Currently, the introduction of the corporate governance code is recommended to companies with state ownership.

As a result, it is planned to obtain a mechanism for assessing the activities of the Board of Directors, to form an effective system of risk management and internal controls, to develop a plan for executive management succession, program of human resources development, as well as control measures, including the approval of the code of corporate governance itself. All this will not only increase a degree of openness of suburban passenger company, but also its investment appeal.

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