Supervisory board

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Supervisory board

The board of directors that represents stakeholders in the governance of the corporation.
References in periodicals archive ?
(48.) This letter to the Aufsichtsrat is found in D.M.H.-File 1/1.
(347.) Free translation of: "'Say on pay' soli fur borsennotierte Aktiengesellschaften zu einem obligatorischen und fur den Aufsichtsrat verbindlichen Element ausgebaut werden," Press Release, Die Bundesregierung, Vernunft und Mass bei Managerbezahlung (May 8, 2013) (http://www.
In order to match the requirements of separating the decision making process and control, the Aufsichtsrat is not empowered to run a business (Facts about Germany, 1996; Wentges, 2002).
Reference is often made to the German Aufsichtsrat when discussing shareholder advisory committees because it is comprised of a number of shareholder representatives--mainly bankers, but also business people and members of the public--which provides shareholders with a role in maintaining the accountability of the management board.
The type of corporate structure common in some countries can lead to different results in the corporate governance arena, in Germany, for example, there is a two-tiered board structure consisting of a management board called the Vorstand and a supervisory board of outside directors called the Aufsichtsrat. (31) Members of the Vorstand cannot, at the same time, be members of the Aufsichtsrat.
This represented the first codification of the internal organization of the AG--regulating the Generalversammlung (general meeting), the Vorstand (management board) and the (optional) Aufsichtsrat (supervisory board (5)) [Meisel, 1992, p.
(51.) Although based on a Supervisory Board (Aufsichtsrat) under German law, statutory auditors in Japan have a weaker position than their German counterparts vis-a-vis the board of directors.
The German Stock Corporation Act (Aktiengesetz) requires all German stock corporations to have two boards: a supervisory board (Aufsichtsrat) and a management board (Vorstand).
Johannes Semler, The Practice of the German Aufsichtsrat, in COMPARATIVE CORPORATE GOVERNANCE--THE STATE OF THE ART AND EMERGING RESEARCH 267, 272 (Klaus J.
Farben's top managers, including Carl Krauch, the chairman of the Aufsichtsrat (supervisory board), the entire Vorstand (managing board), and four lower ranking managers (see appendix).
The Aufsichtsrat, or supervisory board (board of directors), consists of shareholder representatives and worker representatives in fixed proportions.