board of directors
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board of directors
A committee that supervises and monitors the management of a company or organization. Depending on the legal form and country (e.g., in Switzerland), it also has executive functions.
Der Verwaltungsrat der Aktiengesellschaft muss der neuen Strategie noch zustimmen.
The board of directors of the public limited company still has to approve the new strategy.
This word is made up of three parts: 'Verwaltung' (administration/management) + the linking -s + 'Rat' (council/board). So it literally refers to a 'board' that oversees the 'administration' of a company or organization.
Der Verwaltungsrat besteht aus fünf Mitgliedern.
The board of directors consists of five members.
Common verbs used in connection with this body are 'tagen' (to meet), 'beschließen' (to decide/pass a resolution), 'wählen' (to elect), and 'kontrollieren' (to monitor). You can be a 'Mitglied im Verwaltungsrat' (member of the board of directors) or 'in den Verwaltungsrat gewählt werden' (be elected to the board of directors).
Der Verwaltungsrat tagt einmal im Quartal.
The board of directors meets once per quarter.
'Verwaltungsrat' (board of directors) is a technical term from business and corporate law. The exact tasks and powers of this body can vary depending on the country and the legal form of the organization.
In der Schweiz hat der Verwaltungsrat weitreichende Kompetenzen.
In Switzerland, the board of directors has far-reaching powers.
board
Vorstand runs the affairs of a company or organization. Verwaltungsrat supervises and monitors the management, but depending on the country and organizational structure, it can also have executive responsibilities. Therefore, the appropriate term depends on the actual responsibilities and the company's structure.
Der Verwaltungsrat überwacht die Geschäftsführung des Schweizer Unternehmens.
The board of directors supervises the management of the Swiss company.
Der Vorstand führt die Geschäfte des deutschen Unternehmens.
The board runs the affairs of the German company.
