| Commentary

17 Managing directors

| Commentary

17 Managing directors

It is usual for the articles of association of a company to provide that one of its directors may be appointed managing director of the company, to whom powers of the directors may be delegated1. If the power to appoint a managing director is vested in the board, the members themselves cannot make that appointment but the overall control still remains in the hands of the members, who can, by ordinary resolution, terminate the appointment to the main board upon which the position of managing director hinges2.

The powers and duties of a

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