Verwaltungsrat · board of directors
The board of directors is responsible for the overall management of the company and for its non-transferable duties. The English term is familiar, but the duties attached to it are those set out in the Code of Obligations, not those of a common-law board.
Request a demoThe term in four languages
- German
- Verwaltungsrat
- French
- conseil d'administration
- Italian
- consiglio d'amministrazione
- English
- board of directors
Definition
The board of directors is the managing body of a company limited by shares and comprises one or more members. It is responsible for the overall management of the company and determines its organisation. It organises the accounting and financial control systems, appoints and dismisses the persons entrusted with management, and exercises overall supervision over them. It also prepares the general meeting. These duties are non-transferable and inalienable.
Swiss federal acts are published in German, French and Italian, and all three versions are equally authoritative. The English term shown here comes from the Federal Administration's English translation, published on Fedlex for information only. Where there is no translation, it follows common usage.
Full glossaryThe term in an official text
powered by Neur.onDer Verwaltungsrat der Gesellschaft besteht aus einem oder mehreren Mitgliedern.
The company’s board of directors comprises one or more members.
Source: Fedlex, Code of Obligations. In Corrext, this segment and the ones around it appear in Fast lookup CHnell, each with its reference.
Related terms
A company that is liable for its obligations only to the extent of its own assets.
Generalversammlung · general meetingThe supreme governing body of a company limited by shares, made up of its shareholders.
Revisionsstelle · external auditorThe body that audits a company's annual accounts.