Legal Obligations of a Chief Operating Officer
LexInter | September 17, 2019 | 0 Comments

Legal Obligations of a Chief Operating Officer

The Deputy Chief Executive Officer has a mission to assist the Chief Executive Officer. He is an assistant to the CEO, but vis-à-vis third parties, he is a management body with “the same powers as the CEO” (article L 225-56 para. 2)

Duties of the CEO

He must be a natural person. Like the managing director, he can be chosen from among the directors or outside them and does not need to be a shareholder of the company

The articles of association must provide for the maximum number of deputy managing directors, which cannot exceed five (art. L 225-53 paragraph 2).

The term of office of the Deputy Chief Executive Officer is set by the Board of Directors in agreement with the Chief Executive Officer (art. 225-56, II)

The Deputy Chief Executive Officer may be dismissed at any time by the Board of Directors and on the proposal of the Chief Executive Officer (art. L 225-55 para. 1)

The right of revocation is free but if it is decided without just cause it may give rise to damages /

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