Board of Directors Consists of How Many Members?

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Our Joint Stock Company has 3 shareholders. Do these 3 shareholders automatically constitute the company's Board of Directors? What is the term of the Board of Directors?Please respond at your earliest convenience. Thank you.

According to Article 134 of the 2014 Enterprise Law, a Joint Stock Company is required to have a Board of Directors.

Additionally, Clause 1 of Article 150 of this Law stipulates:

The Board of Directors shall have from 03 to 11 members. The company's charter shall specify the number of members of the Board of Directors.

Therefore, if the company has only 3 shareholders, these 3 shareholders naturally become members of the Board of Directors.

The term of office for members of the Board of Directors, independent members of the Board of Directors shall not exceed 05 years and may be re-elected for an unlimited number of terms. The number, specific duration of the term, and the number of members of the Board of Directors required to reside in Vietnam shall be determined by the company's charter (Clause 2 of Article 150 of this Law).

Respectfully!

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