Managers' Right and Power

Company's business decisions are made by the Board, but the Board is not responsible for the business operation or its implementation.  The appointment of managers is in charge of the daily operation and management activities of a company. Therefore, it is necessary for a company to have manager(s) which is the standing executive body.

Managers is agreed and appointed by the Board of Directors, adhering to resolutions of the directors / shareholders meeting, the Board has the right to manage the company's affairs and who is entitled to sign on behalf of the company.  A company may have a person or persons as a manager(s), when several managers, the general manager should be one man, the others are man-made, i.e. deputy general manager or assistant manager. General manager is the chief executive body of the head of operations, while other managers assist the general manager’s job duties.

"Company Law" Article 50:   A limited liability company may have a manager.  The Board makes the decision on the appointment or dismissal of the manager.  The manager can exercise the following powers:

  • (A) Presided over the company's production and operation management, organization and implementation of Board resolutions;
  • (B) Implement business plans and investment programs;
  • (C) Prepare company's internal management structure;
  • (D) Draft basic management system of the Company;
  • (E) Formulate specific rules and regulations;
  • (F) Propose the appointment or dismissal of the deputy manager, chief financial officer;
  • (G) Decide the appointment or dismissal the one the management personnel other than which the decision by the Board’s scope for appointment or dismissal;
  • (H) Other terms as granted by board of directors.

Articles specified the powers of managers.   Managers should attend board meetings.