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
'der Vorstand' and 'der Verwaltungsrat' both refer to important bodies in companies or organizations. The Vorstand normally runs the business and is responsible for day-to-day management. The Verwaltungsrat supervises and monitors management; depending on the country and legal form, it may also have more executive responsibilities. The words can be confused because both are high up in the organization. As a simple guide: 'Vorstand' is more about running things, while 'Verwaltungsrat' is more about monitoring or setting the overall direction.
Der Verwaltungsrat prüfte den Jahresbericht und stellte viele Fragen.
The board of directors reviewed the annual report and asked many questions.
Der Vorstand erklärt den Mitarbeitern, warum das Unternehmen sparen muss.
The board explains to the employees why the company has to cut costs.