Chairman of the supervisory board, the independent director and the other directors appointed by the board of directors are all appointed by the board of directors. The Chairmen of the Supervisors of Companies Act is also called the SHOA or the Special Home Owner’s Association Act. It was in 1994 when the last such act to regulate home owners’ associations (SHOA) was passed. One of the main objectives of the SHOA was to reduce the conflicts between the board members and the residents of the communities. To this end, the act established the role of the chairmanship of the supervisor board, which includes a permanent representative or an alternate member who is elected by the homeowners for a term of two years from the date of appointment. To look at these
The Chairman of the supervisory board is a person
The Chairmanship of the Supervisors of Companies Act also referred to as the Board of Directors, is usually elected by the residents of the communities, either by nomination or election. Once the candidates are chosen, they are subjected to a disciplinary investigation conducted by the governing body of the society in which they are resident. Once the investigations are complete and the results are approved, the newly elected chairmanship of the supervisors will be announced by the governing body. The official duties of the chairmanship of the board of directors include the regular meetings of the board and the review of their activities by the other members of the board.
Under the Chairmanship of the Supervisors of Companies Act, a member of the board can have more than one type of official title. The names of the members of the Board of Directors will always be the same throughout. The only variation would be on the titles of the members of the Board of Directors of the Society, which are also called the Supervisors. This ensures a smooth process of succession should the current chief executive officer or any alternate members of the Board of Directors become interested in becoming a part of the governing bodies of the societies. A Lucet independent director designation is usually reserved for small organizations, where the membership is small and most importantly the corporation cannot afford to appoint an interim chief executive officer to serve as an Acting CEO in the event that the current CEO is unable to serve effectively due to illness or any unforeseen circumstances. If you are interested in being a director of a corporation, it is best to seek a Lucet designation instead of an ordinary director designation.