Global Legal Update (#11 November 2014)

Governance of Luxembourg Company

by Ekateryna A. Soboleva

This article is dedicated to the issues of governance and transparency in Luxembourg companies, which are listed on the stock exchange.

Experienced vanguard of directors

One of the most interesting issues is communication by directors of Luxembourg company. The best number of directors for the company listed at stock exchange, open and transparent is five. The Board of Directors shall appoint from among its members a chairman at majority for a term an average of 6 years and may choose among its members one or more vice-chairmen. The Board of Directors may also choose a secretary (the Secretary) who need not be a Director and who may be instructed to keep the minutes of the Meetings of the Board of Directors as well as to carry out such administrative and other duties as directed from time to time by the Board of Directors…

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