“This change only refers to renewal of positions. The maximum duration of the mandate was already limited to three years within the framework of a first appointment to the board” said a spokesman of Daimler Chrysler to europnews, before adding “It is a question of a general rule. Exceptions are possible.” According to the spokesman of the manufacturing group based in Stuttgart the decision of the Supervising Commission was due to the debate arising in Germany on the “German Company Management Code” (Corporate-Governance-Kodex). This code contains a series of national and international norms aimed at reinforcing the control of German limited companies. “In the United States the members of a board of directors are appointed for periods much shorter than those in Germany” the spokesman affirmed. In Germany the members of the boards of directors are generally appointed for five years.
gement Code” (Corporate-Governance-Kodex). This code contains a series of national and international norms aimed at reinforcing the control of German limited companies. “In the United States the members of a board of directors are appointed for periods much shorter than those in Germany” the spokesman affirmed. In Germany the members of the boards of directors are generally appointed for five years.
The first board members that will be affected by the new regulations could well be Andreas Rensc
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