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Enterprises with over 500 employees must have one-third representation on a supervisory board. 50%: 2000: Enterprises with over 2000 employees must have one-half representation on a supervisory board, but the chair of the supervisory board is a shareholder representative and has a casting vote. In coal and steel companies shareholder ...
[3] When a German company has 500–2,000 employees, the workers select one-third of the supervisory board. [4] When it comes to internal elections the chairman of the supervisory board, the Aufsichtsratsvorsitzender, has two votes in case of a draw. [5] The supervisory board, in theory, is intended to provide a monitoring role. However, the ...
Employees and national unions have equal representation on the supervisory board with the stockholders, but the board’s chairman must be a stockholder who has a tie-breaking vote. [ 5 ] The principle is to have almost equal representation between employee representatives and shareholder representatives on the supervisory board ( Aufsichtsrat ).
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.
In the two-tiered board, the executive board, made up of company executives, generally runs day-to-day operations while the supervisory board, made up entirely of non-executive directors who represent shareholders and employees, hires and fires the members of the executive board, determines their compensation, and reviews major business decisions.
Board structures and procedures vary both within and among OECD countries. Some countries have two-tier boards that separate the supervisory function and the management function into different bodies. Such systems typically have a "supervisory board" composed of nonexecutive board members and a "management board" composed entirely of executives.
However, German company law uses a split board system, in which a "supervisory board" appoints an "executive board". Under the Mitbestimmungsgesetz 1976, shareholders and employees elect the supervisory board in equal numbers, but the head of the supervisory board with a casting vote is a shareholder representative. The first statutes to ...
Under section 3, (29 U.S.C. § 153) the NLRB has two basic functions: overseeing the process by which employees decide whether to be represented by a labor organization and prosecuting violations. Those processes are initiated in the regional offices of the NLRB. [6] The General Counsel of the National Labor Relations Board give legal advice.