In particular, if the subsidiary is a joint stock limited company, there must be a board of directors. If the subsidiary is a limited liability company, it may have only executive directors and no board of directors.
Moreover, the board of directors cannot be abolished. Of course, directors can also serve concurrently, that is, directors of subsidiaries can also be group directors. If it is a branch, there must be no board of directors.
The board of directors is a decision-making body composed of directors, which is in charge of the company's affairs internally and represents the company externally. The company has a board of directors, which is elected by the general meeting of shareholders.
The board of directors has a chairman and a vice chairman. The chairman and vice chairman are elected by the board of directors. The term of office of the directors is three years, and they can be re-elected at the expiration of the term. Before the expiration of his term of office, the shareholders' meeting shall not dismiss him without reason.
The board of directors is an operating executive body composed of all directors established in accordance with relevant laws, administrative regulations and policies and the articles of association of the company or enterprise. Has the following characteristics:
The board of directors is the business executive body of the authority of the shareholders' meeting or the employees' meeting of the enterprise. It is responsible for the command and management of the company or enterprise and its business activities, and is responsible for and reports its work to the shareholders' meeting of the company or enterprise. The board of directors must implement the decisions made by the shareholders' meeting or the employees' shareholders' meeting on major issues of the company or enterprise.
China's laws stipulate the number of directors of limited liability companies and joint stock limited companies respectively. Article 45 of the Company Law stipulates that a limited liability company shall have a board of directors with 3- 13 members.
Article 5 1 of the Company Law stipulates that a limited liability company with fewer shareholders or a smaller scale may have an executive director instead of a board of directors. Article 109 of the Company Law stipulates that a joint stock limited company shall set up a board of directors with 5- 19 members.