These powers and powers are limited only by what is stipulated in the law or the company's articles of association. <The Board of Directors and its members reach the peak of performance when they fulfill their responsibilities and exert their maximum effort and exploit knowledge, experience and specialization, the Board of Directors must abide by the provisions of the laws and special regulations governing the establishment of the company, the Board may not perform work unrelated to the company's activity or waive the company's rights towards third parties, the Board's authority is not absolute, it is not entitled to amend the company's contract or its regulations, nor to decide to merge or liquidate the company or to increase or reduce its capital, nor to dismiss the Chairman of the Board or one of its members without referring to the competent authority to approve the issued decisions, in general the Board of Directors assumes administrative and financial tasks and the Board of Directors
<Appointing the CEO, defining his powers and supervising his work. <Implementing the decisions of the competent authorities and following up on their implementation. <Drawing up the final accounts for the previous year during the first six months of each year and preparing a comprehensive report on them and the results of the implementation of the annual plan, including: (general budget - profit and loss statement - cash available in the treasury - statement of sales achieved - statement of purchases - appointment of auditor - scientific studies and planning - providing the necessary resources).In the event of violations by members of the Board of Directors, the responsibility falls on all members of the Board of Directors, provided that the error arose from a unanimous decision, if the decision was issued by a majority, those who object to the decision shall not be penalized, provided that this is recorded in the minutes of the decision-making session.
Satisfying customers, good reputation, and increasing profits are among the most important goals of companies, so boards of directors must work according to scientific bases and legal and ethical controls, as success only goes to those who deserve it.
Marketing Expert
