The “corporate bodies” are those institutions which, within a company, are responsible for the functions of direction, management and control. Typically, they are:
The BoD is the executive body of the company entrusted with the task of implementing the decisions taken by the shareholders’ meeting and carrying out the company’s business. The resolutions of the BoD must be taken by absolute majority and with the presence of the majority of the directors in office. The board of directors is responsible for approving organizational strategies, developing management policy, hiring, supervising and compensating senior managers, and ensuring the organization’s legal accountability to the authorities. Individuals may serve on the boards of directors of multiple companies.