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In a landmark decision regarding the expiration of directors' term of office, the Swiss Federal Supreme Court (FSC) held that the term of office of board members not only ends if no timely re-election occurs...
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In a landmark decision regarding the expiration of
directors' term of office, the Swiss Federal Supreme Court
(FSC) held that the term of office of board members not only ends
if no timely re-election occurs, but that resolutions taken by a
shareholders' meeting convened by board members after the
expiry of their term are null and void.
In our briefing, we look at the underlying facts of the case,
the consequences of the court's decision and offer
recommendations for situations where a deadline for re-election is
missed.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.