Board of trustees

The board of trustees is a body not-executive having for mission of taking care of the good performance of a company and of giving an account of it to the shareholders.

Operation

The board of trustees is composed of a going number from three to eighteen members, of which the half at least must be present at the meetings.

In the event of equality, the voice of the president is dominating.

The members of the board of trustees are designated by the shareholders for one duration specified in the statutes, six years to the maximum. The first members (during the creation of the company) are it for three years. All are re-eligible.

A member of the board of trustees is necessarily shareholder of the company, but cannot be at the same time member of the directory. It can be paid company, or a moral person (represented by an agent). Their revocation can be done constantly by a general meeting of the shareholders.

An age limit can be specified in the statutes. Failing this, this limit is seventy years for one the third of the members.

The board of trustees meets in a quarterly way at least.

He must obtain itself with rules of procedure and a president.

The role of the president of the board of trustees is primarily to direct the meetings and to keep a regular contact with the directory to be informed without delay of the extraordinary events requiring possibly an extraordinary meeting of the board of trustees.

An annual sum is determined by the shareholders to remunerate the members of the board of trustees, who are distributed it.

Role

Nominations: It names the president and the members of the directory of which it controls management.

Control: Any time of the year, it operates the checks and controls which it considers convenient and is made communicate the documents which it considers useful for the achievement of its mission. It deliberates on the general strategy on the company which is submitted for its approval ......

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