Composition of the Board of Directors in a Public Company
Based on Article 276 of Decree 155/2020/ND-CP stipulating the composition of the Board of Directors in public companies as follows:
The number of members of the Board of Directors in a public company is at least 03 and at most 11 people.
The structure of the Board of Directors in a public company must ensure that at least one-third (1/3) of the total number of members are non-executive members.
In the case of an unlisted public company operating under the model stipulated at point b, clause 1, Article 137 of the Law on Enterprises, the structure of the Board of Directors must ensure that at least one-fifth (1/5) of the total board members are independent members. If the number of Board of Directors members in an unlisted public company operating under the mentioned model is less than 05, the company must ensure that one member of the Board of Directors is an independent member.
The number of independent members of the Board of Directors in listed companies must comply with the following provisions:
a) There must be at least 01 independent member if the company has a Board of Directors comprising 03 to 05 members;
b) There must be at least 02 independent members if the company has a Board of Directors comprising 06 to 08 members;
c) There must be at least 03 independent members if the company has a Board of Directors comprising 09 to 11 members.
Respectfully!
