The CEOs and executive directors should be compulsorily recruited by the company.

Consequences of the reform of the Companies Law:

The reform of the Companies Act capital approved 3 December 2014 agree that when a member of the board is appointed CEO or attributed executive functions will require that a contract between it and society is held, the which necessarily must be approved by the board of directors. The contract for executive directors delegates and advisers be incorporated as an annex to the minutes of the session.

The contract all items for which you can get a detailed remuneration, including possible compensation for early cessation of these functions and the amounts payable by the company in respect of insurance premiums or contributions to savings schemes. You can not receive other compensation not provided therein.

Marcos Jimenez, dig advocats

About the Author:

Marcos Jimenez de Parga

DiG Lawyers