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Managing Board
In German corporate governance, a ''Vorstand'' is the executive board of a corporation (public limited company). It is hierarchically subordinate to the supervisory board (''Aufsichtsrat''), as German company law imposes a two-tier board of directors. German law confers executive powers on the executive board as a body. It is expected to act collectively and collegially. Unlike the executive committee (a.k.a. operating committee or executive council) of a U.S. or UK company, the executive board is not an adjunct of the CEO (managing director). In contrast to Japanese corporate governance, the German executive board has real decision-making power.Charkham, page 85 It is, by law, the managing body of a company and cannot be instructed by any legal person, be they natural or artificial, to act in such a way as to harm the business. Executive board members are personally liable for accepting any such instructions. The specific scope of an executive board's duties varies from busines ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corporate Governance
Corporate governance is defined, described or delineated in diverse ways, depending on the writer's purpose. Writers focused on a disciplinary interest or context (such as accounting, finance, law, or management) often adopt narrow definitions that appear purpose-specific. Writers concerned with regulatory policy in relation to corporate governance practices often use broader structural descriptions. A broad (meta) definition that encompasses many adopted definitions is "Corporate governance” describes the processes, structures, and mechanisms that influence the control and direction of corporations." This meta definition accommodates both the narrow definitions used in specific contexts and the broader descriptions that are often presented as authoritative. The latter include: the structural definition from the Cadbury Report, which identifies corporate governance as "the system by which companies are directed and controlled" (Cadbury 1992, p. 15); and the relational-struc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Speaker (politics)
The speaker of a deliberative assembly, especially a legislative body, is its presiding officer, or the chair. The title was first used in 1377 in England. Usage The title was first recorded in 1377 to describe the role of Thomas de Hungerford in the Parliament of England.Lee Vol 28, pp. 257,258. The speaker's official role is to moderate debate, make rulings on procedure, announce the results of votes, and the like. The speaker decides who may speak and has the powers to discipline members who break the procedures of the chamber or house. The speaker often also represents the body in person, as the voice of the body in ceremonial and some other situations. By convention, speakers are normally addressed in Parliament as 'Mister Speaker', if a man, or 'Madam Speaker', if a woman. In other cultures, other styles are used, mainly being equivalents of English "chairman" or " president". Many bodies also have a speaker '' pro tempore'' (or deputy speaker), designated to fill ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Vorstandsassistent
A ''Vorstandsassistent'' (Board Assistant or Assistant to the Board) is a specific role in German and Austrian public companies that are managed by a Vorstand or executive board. A Vorstandsassistent typically serves as both a "noise filter" and proxy for the Board Member in a variety of internal and external capacities. Depending on the board member, there can be one or multiple board assistants (Vorstandsassistenten). Since each board member has at least one, if not several, board assistants, there is typically an informal network between the board assistants to get work done quickly in big organizations. Vorstandsassistenten (board assistants) typically serve for a fixed period of time, 2–3 years, and the Vorstandsassistent, by definition, is designed as an executive training program for promising young talent. The exposure that board assistants gain to senior executives and corporate strategy is very valuable and tends to position the board assistant for high-profile role ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Breach Of Duty In English Law
In English tort law, there can be no liability in negligence unless the claimant establishes both that they were owed a duty of care by the defendant, and that there has been a breach of that duty. The defendant is in breach of duty towards the claimant if their conduct fell short of the standard expected under the circumstances. General standard of care is as follows For a defendant to be deemed negligent, he must have breached his duty of care towards the plaintiff. In order to be deemed as breaching the duty of care, his actions must be proven to fall below the standard of care likely to be taken by the reasonable man. Establishing a breach of duty and ascertaining the standard of care is complex and before establishing that the duty of care has been breached the plaintiff must first prove that the defendant owed him a duty of care. The standard of care is defined as the measures that a reasonable person (in the circumstances of the defendant) take to reduce the risk of harm. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Job Security
Job security is the probability that an individual will keep their job; a job with a high level of security is such that a person with the job would have a small chance of losing it. Many factors threaten job security: globalization, outsourcing, downsizing, recession, and new technology, to name a few. Basic economic theory holds that during periods of economic expansion businesses experience increased demand, which in turn necessitates investment in more capital or labor. When businesses are experiencing growth, job confidence and security typically increase. The opposite often holds true during a recession: businesses experience reduced demand and look to downsize their workforces in the short term. Governments and individuals are both motivated to achieve higher levels of job security. Governments attempt to do this by passing laws (such as the U.S. Civil Rights Act of 1964) which make it illegal to fire employees for certain reasons. Individuals can influence their degree ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Co-determination In Germany
Codetermination in Germany is a concept that involves the right of workers to participate in management of the companies they work for. Known as '' Mitbestimmung'', the modern law on codetermination is found principally in the ''Mitbestimmungsgesetz'' of 1976. The law allows workers to elect representatives (usually trade union representatives) for almost half of the supervisory board of directors. The legislation is separate from the main German company law Act for public companies, the ''Aktiengesetz''. It applies to public and private companies, so long as there are over 2,000 employees. For companies with 500–2,000 employees, one third of the supervisory board must be elected. There is also legislation in Germany, known as the '' Betriebsverfassungsgesetz'' whereby workers are entitled to form Works Councils at the local shop floor level. Goals of codetermination Views differ on the goals of codetermination in general. Some social reformers maintain that workers are not merel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deutsche Bank
Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Stock Exchange. It was founded in 1870 and grew through multiple acquisitions, including Disconto-Gesellschaft in 1929 (as a consequence of which it was known from 1929 to 1937 as Deutsche Bank und Disconto-Gesellschaft or "DeDi-Bank"), Bankers Trust in 1998, and Deutsche Postbank in 2010. As of 2018, the bank's network spanned 58 countries with a large presence in Europe, the Americas, and Asia. As of 2021, Deutsche Bank was the 21st largest bank in the world by total assets and 93rd in the world by market capitalization. It is a component of the DAX stock market index, and often referred to as the largest German banking institution even though the Sparkassen-Finanzgruppe comes well ahead in terms of combined assets. Deutsche Bank ha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Primus Inter Pares
''Primus inter pares'' is a Latin phrase meaning first among equals. It is typically used as an honorary title for someone who is formally equal to other members of their group but is accorded unofficial respect, traditionally owing to their seniority in office. Historically, the ''princeps senatus'' of the Roman Senate was such a figure and initially bore only the distinction that he was allowed to speak first during debate. Also, Constantine the Great was given the role of ''primus inter pares''. However, the term is also often used ironically or self-deprecatingly by leaders with much higher status as a form of respect, camaraderie or propaganda. After the fall of the Republic, Roman emperors initially referred to themselves only as '' princeps'' despite having enormous power. Various modern figures such as the chair of the United States Federal Reserve System, the prime minister of parliamentary countries, the President of Switzerland, the Chief Justice of the US S ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sprecher
Sprecher is a surname. Notable people with the surname include: *Ben Sprecher Ben Sprecher is a Broadway producer and general manager. Sprecher's credits include, as producer, ''Voices in the Dark'' (1999), Tony Award-nominee '' Fortune's Fool'' (2002), ''Sly Fox'' (2004), ''Mark Twain Tonight!'' (2005), ''The Odd Couple'' ( ..., Broadway producer and theater owner * Jeffrey Sprecher (born 1955), American businessman * Jill Sprecher, American film director * Lorrie Sprecher, novelist, poet, and punk musician * Robert Arthur Sprecher (1917–1982), United States federal judge * Samuel Sprecher, Wittenberg University president from 1849–1874 See also * Sprecher Brewery, brewery in Wisconsin * Sprecher's shunt, metabolic pathway {{surname, Sprecher German-language surnames ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executive Board
A board of directors (commonly referred simply as the board) is an executive committee that jointly supervises the activities of an organization, which can be either a for-profit or a nonprofit organization such as a business, nonprofit organization, or a government agency. The powers, duties, and responsibilities of a board of directors are determined by government regulations (including the jurisdiction's corporate law) and the organization's own constitution and by-laws. These authorities may specify the number of members of the board, how they are to be chosen, and how often they are to meet. In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation, non-executive directors are elected by the shareholders, and the board has ultimate responsibility for the management of the corporation. In nations with codetermination (such as Germ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legal Person
In law, a legal person is any person or 'thing' (less ambiguously, any legal entity) that can do the things a human person is usually able to do in law – such as enter into contracts, sue and be sued, own property, and so on. The reason for the term "''legal'' person" is that some legal persons are not people: companies and corporations are "persons" legally speaking (they can legally do most of the things an ordinary person can do), but they are not people in a literal sense. There are therefore two kinds of legal entities: human and non-human. In law, a human person is called a ''natural person'' (sometimes also a ''physical person''), and a non-human person is called a ''juridical person'' (sometimes also a ''juridic'', ''juristic'', ''artificial'', ''legal'', or ''fictitious person'', la, persona ficta). Juridical persons are entities such as corporations, firms (in some jurisdictions), and many government agencies. They are treated in law as if they were persons. Wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
