{"id":42072,"date":"2017-10-26T02:42:41","date_gmt":"2017-10-26T00:42:41","guid":{"rendered":"https:\/\/www2.polyas.de\/ct_content_page_2\/faq-6"},"modified":"2024-06-24T08:40:36","modified_gmt":"2024-06-24T06:40:36","slug":"faq-6","status":"publish","type":"page","link":"https:\/\/www.polyas.com\/companies\/corporate-elections\/faq","title":{"rendered":"FAQ: Corporate Elections"},"content":{"rendered":"<div  class='flex_column av-2h0g7x4-de4ae1467e542757120a2c90fb2718d7 av_two_third  avia-builder-el-0  el_before_av_one_third  avia-builder-el-first  first flex_column_div  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-1aizrzs-3a69d531a07fba940ea3d9e9fc7194d2\">\n.avia-image-container.av-1aizrzs-3a69d531a07fba940ea3d9e9fc7194d2 img.avia_image{\nbox-shadow:none;\n}\n.avia-image-container.av-1aizrzs-3a69d531a07fba940ea3d9e9fc7194d2 .av-image-caption-overlay-center{\ncolor:#ffffff;\n}\n<\/style>\n<div  class='avia-image-container av-1aizrzs-3a69d531a07fba940ea3d9e9fc7194d2 av-styling- avia-align-center  avia-builder-el-1  el_before_av_textblock  avia-builder-el-first '   itemprop=\"image\" itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/ImageObject\" ><div class=\"avia-image-container-inner\"><div class=\"avia-image-overlay-wrap\"><img decoding=\"async\" fetchpriority=\"high\" class='wp-image- avia-img-lazy-loading-not- avia_image ' src=\"https:\/\/www.polyas.de\/wp-content\/uploads\/2017\/10\/Corporate-Elections-FAQ.jpg\" alt='' title=''   itemprop=\"thumbnailUrl\"  \/><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-ltsofnzg-e00b2b2a0be9be2e3c09c71bd36eb6b0 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><h1>FAQ: Corporate Elections<\/h1>\n<p>Most listed companies are required to conduct elections on a regular basis. Below we answer some of the most frequently asked questions regarding corporate elections, employee feedback surveys and the relationship between Directors and Shareholders.&nbsp;<\/p>\n<p><a href=\"\/sites\/default\/files\/Corporate Elections-FAQ.pdf\">You can download the list of corporate election FAQs here\u200b<\/a><\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-ltymfqmc-a7e66dfd12d3c3a0f73a2f3629a0358f '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><h2>General Questions Answered <\/h2>\n<p><strong>What legal position does the board of directors have?<\/strong><br \/>\nEvery company needs a board of directors. Directors manage the company on behalf of the shareholders. Shareholders vote in new board members, thereby indirectly controlling the direction of the company.<\/p>\n<p>&nbsp;<strong>How many directors does a board usually have?<\/strong><br \/>\nThe board of directors must comprise of at least three members. While this changes between countries, most companies of a certain size are required to have at least three members. Larger companies may add new directors.&nbsp; The number of directors is not limited, however, the average number on a board is about twelve.<br \/>\n&nbsp;<\/p>\n<p><strong>How is the election process for directors on the board?<\/strong><br \/>\nThe election process depends on the rules established in the articles of incorporation, bylaws and election guideline documents created at various stages. Most companies have one type of share which enables shareholders to vote on who new members of the board. The usual rule is one share, one vote. Voting is typically conducted at an Annual General Meeting (AGM). Online voting is another possibility that is being adopted. It has the main advantage of higher numbers of voters, thereby giving new board members more support.&nbsp;<\/p>\n<\/div><\/section><br \/>\n<section  class='av_textblock_section av-ltymg7xp-b78053bb5458bc6df78350d079a20a72 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><h2>Who can be Elected as a Board Member?<\/h2>\n<p><strong>Can only shareholders be elected to the board?<\/strong><br \/>\nA board of directors does not only need to be comprised of shareholders. While shareholders are allowed to be members of the board, they do not necessarily need to be. For example, if one shareholder controls more than 50% of the voting power, they may elect themselves as a director. This does happen, but in larger corporations, this is not overly common.<\/p>\n<p><strong>Who can nominate candidates and until what deadline?<\/strong><br \/>\nThe board of directors is usually the party responsible for seeking out the most suitable candidates to help push the company forwards. The exact nomination features must be clearly stated in the bylaws. In some companies, shareholders may only nominate candidates at the AGM but this is often a sign that shareholders and the board do not agree on the direction the company is taking.<\/p>\n<p><strong>How long is the term for the board?<\/strong><br \/>\nThere is no rule how long a director can serve on the board. Some companies elect or re-elect an entire new board every three to five years. However, most companies stagger their elections so that the running of the company is not interrupted. It is not unheard of for terms to last one or even six years.<\/p>\n<p><u>Term length should be clearly stated in your <a href=\"\/companies\/corporate-elections\/bylaws\">bylaws<\/a>.<\/u><\/p>\n<p><strong>Which responsibilities do the board members have?<\/strong><br \/>\nThe board members are elected to run the company on behalf of the shareholders. They usually appoint board members to head various committees, which are responsible for overseeing various aspects of the company. Additionally, the board of directors is responsible for the direction of the company and obeying ethical and legal standards.<\/p>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-ltzjiloq-ca07d89252e665da6549c35602240f27\">\n.av_promobox.av-ltzjiloq-ca07d89252e665da6549c35602240f27{\ncolor:#000000;\nbackground:#e8f8f8;\nborder-color:#ededed;\n}\n<\/style>\n<div  class='av_promobox av-ltzjiloq-ca07d89252e665da6549c35602240f27 avia-button-no'><div class='avia-promocontent'><p>\n<img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-46677 size-thumbnail\" src=\"https:\/\/www.polyas.de\/wp-content\/uploads\/2024\/03\/Bildschirmfoto-2024-03-20-um-09.15.04-80x80.png\" alt=\"\" width=\"80\" height=\"80\" srcset=\"https:\/\/www.polyas.com\/wp-content\/uploads\/2024\/03\/Bildschirmfoto-2024-03-20-um-09.15.04-80x80.png 80w, https:\/\/www.polyas.com\/wp-content\/uploads\/2024\/03\/Bildschirmfoto-2024-03-20-um-09.15.04-36x36.png 36w\" sizes=\"auto, (max-width: 80px) 100vw, 80px\" \/><br \/>\n<strong><\/p>\n<p>Are you planning your next corporate elections? <a href=\"https:\/\/www.polyas.com\/request-demo\">Get in contact with our election experts<\/a> to learn how to simplify your election process today!<\/p>\n<p><\/strong><\/p>\n<\/div><\/div><br \/>\n       <section  class='av_textblock_section av-wz0wl4-34aab32a2d0f1ae4906b93362ed1f18e '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock'  itemprop=\"text\" ><h2>Voting Rights<\/h2>\n<p><strong>Who is eligible to vote?<\/strong><\/p>\n<p>This is entirely dependent on the structure of shares in your corporation. While some companies grant voting rights to anyone with shares, others restrict voting rights to those with a certain number of shares, or more expensive shares with voting rights.<\/p>\n<p>If voting at an AGM, it is often required for shareholders with fewer votes to band together, or pass on their voting rights to a proxy who is attending the AGM. This can be done easily by using our online registration platform.<br \/>\n&nbsp;<\/p>\n<p><strong>Can Annual General Meetings be held via electronic means?<\/strong><\/p>\n<p>Holding an online AGM in associations is both easier, and more fun than voting by acclamation. It speeds up the voting process dramatically, and winners (or decisions) are announced within seconds of the election closing. Voters can cast their ballots online using our live voting platform on smartphones, tablets and laptops.<\/p>\n<\/div><\/section><\/p><\/div> <div  class='flex_column av-1nz9rg8-75c54a224fb808df4d271da46d3d88ea av_one_third  avia-builder-el-6  el_after_av_two_third  avia-builder-el-last  flex_column_div  '     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-lu9i2vcx-f98b442447e01de64a594721f37db094\">\n#top .hr.hr-invisible.av-lu9i2vcx-f98b442447e01de64a594721f37db094{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-lu9i2vcx-f98b442447e01de64a594721f37db094 hr-invisible  avia-builder-el-7  el_before_av_textblock  avia-builder-el-first '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-ltym5gx4-4b5d2bf9f8cb84828b4c30d830082a87 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock cnt2_sidemenu1'  itemprop=\"text\" ><h3><strong>Topics<\/strong><\/h3>\n<ul>\n<li><a href=\"\/companies\/corporate-elections\">Conducting Corporate Elections Online<\/a><\/li>\n<li><a href=\"\/companies\/corporate-elections\/online\">Company Elections Online<\/a><\/li>\n<li><a href=\"\/companies\/corporate-elections\/election-process\">Corporate Election Process<\/a><\/li>\n<li><a href=\"\/companies\/corporate-elections\/board-overview\">Board of Directors Overview<\/a><\/li>\n<li><a href=\"https:\/\/www.polyas.com\/companies\/corporate-elections\/AGM\">Online Voting at Annual General Meetings<\/a><\/li>\n<li><a href=\"\/companies\/employee-engagement-survey\">Employee Engagement Surveys Overview<\/a><\/li>\n<li><a href=\"\/companies\/corporate-elections\/checklist\">Checklist: Corporate Board Election<\/a><\/li>\n<\/ul>\n<\/div><\/section><br \/>\n<div  class='hr av-13shxaw-70ecde758ef09bd32c279342ccec690e hr-default  avia-builder-el-9  el_after_av_textblock  el_before_av_textblock '><span class='hr-inner '><span class=\"hr-inner-style\"><\/span><\/span><\/div><br \/>\n<section  class='av_textblock_section av-lu9idg7z-bf603fd1ba39051b13a329fc88d83331 '   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/CreativeWork\" ><div class='avia_textblock cnt2_sidemenu2'  itemprop=\"text\" ><h3><strong>Further information<\/strong><\/h3>\n<ul>\n<li><a href=\"\/election-administration\">Election Administration<\/a><\/li>\n<li><a href=\"\/election-material\">Election Material<\/a><\/li>\n<li><a href=\"\/increase-voter-turnout\">How to Increase Voter Turnout in your Election<\/a><\/li>\n<li><a href=\"\/election-glossary\">POLYAS Election Glossary<\/a><\/li>\n<\/ul>\n<\/div><\/section><\/p>\n<p><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":4,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"content-type":"","footnotes":""},"categories":[9568],"tags":[],"class_list":["post-42072","page","type-page","status-publish","hentry","category-allgemein-en"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v25.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FAQ: Corporate Elections<\/title>\n<meta name=\"description\" content=\"Here you can find answers to the most commonly asked questions regarding a company&#039;s board, corporate elections and corporate bylaws.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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