and a two-tier board
structure in the articles of association.
A two-tier board
, on the other hand, consists of a management board and a supervisory board.
Under Germany's two-tier board
structure for listed companies, senior managers including the chief executive are appointed by the non-executive supervisory board.
Axel Springer SE will continue to be managed by a two-tier board
structure comprising the Management Board and the Supervisory Board.
This system generally uses a two-tier board
structure, dividing board functions between a supervisory board and a management board.
Similar approaches have also been used in South Africa under the King report (known as King II) and, despite its two-tier board
system, in the Netherlands.
Other corporate governance initiatives proposed in the Action Plan cover: achieving better information on the role played by institutional investors in corporate governance; giving further emphasis to the principle of proportionality between capital and control: offering to listed companies the choice between the one-tier and two-tier board
structures; and enhancing directors' responsibilities for financial and key non-financial statements.
In Germany, the two-tier board
structure means that the management board (which is appointed by the supervisory board and functions much like the group of U.
As of the spin-off date Acordis was expected to be registered in The Netherlands and have a two-tier board
system with a supervisory board and a board of management.
Ironically, Gonzaga has a two-tier board
that sets it apart from most of the nation's 28 Jesuit colleges and universities because Jesuits retain greater control.
However, it may not be more than 10 or 15 years before we have an actual two-tier board
system such as they have in France, with just the chief executive attending and sitting on the supervisory board.
Ridout becomes the second member of the Cordys Supervisory board, which in The Netherlands' two-tier board
system is comprised exclusively of non-executive members.