Vietnam: Will the President of the Board of Members appoint the General Director of a multi-member limited liability company?
Point dd Clause 2 Article 55 of the Law on Enterprises 2020 stipulates the rights of the Board of Members in Vietnam as follows:
Elect and dismiss the President of the Board of Members; designate, dismiss, sign and terminate contracts with the Director/General Director, chief accountant, controllers and other executives specified in the company's charter;
Thus, the Board of Members shall appoint the General Director of a multi-member limited liability company in Vietnam, not the President of the Board of Members.
Respectfully!
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