Board of Directors
The Board of Directors ( English for literally about, Board of Directors 'or Board ') is in the Anglo-American space, the management and supervisory board of a company . It mostly combines the functions of the executive board and supervisory board of a German stock corporation and thus represents a one- tier system of corporate management. The chairman of the board of directors is known as the chairman of the board (COB).
The members of the board are elected solely by the shareholders, usually by the general meeting. Employee representatives, such as on the supervisory board of large corporations in Germany, are not provided for on the board of directors . The board members are usually divided into executive and non-executive members. The executive board members, often referred to as chief officers , take over the operational management of the company and thus correspond to the board of a German AG. The non-executive board members are primarily active in an advisory and control function and do not exercise this office full-time and are not employees of the company. Your office is comparable to that of a member of the supervisory board of a German AG.
Some companies in the Anglo-American region use a dualistic system of corporate management instead , in which the management and control committee are separated, analogous to the separation between the management board and the supervisory board in a German stock corporation . The board of directors has a control function in this system, while the management is taken over by the executive board . It is possible for both bodies to overlap, for example the CEO, as chairman of the executive board, is often a member of the board of directors .
Companies that use this type of corporate management include Apple and Google .
In other countries
In a European Company (SE) , too, management can be exercised by a Board of Directors . The SE offers freedom of choice between the one-tier system and the dual-tier system.
Japanese kabushiki kaisha are also presided over by such a body called torishimariyaku-kai 'Board of Directors', 'Board of Directors'.
In Russian, instead of the executive board, the supervisory board is referred to as the 'council of directors' ( Совет директоров Soviet directorov ), a better translation of Совет директоров would therefore be 'directorate advisory board' (supervisory board attached to the board of directors).
- ↑ Apple: Apple Leadership , accessed May 11, 2015.
- ^ Google: Management Team , accessed May 11, 2015.