Читать книгу Corporate Governance - Implementation Guide - Saleh Hussain - Страница 13

Organizations are generally faced by many questions when establishing the board of directors; like how many board members should be appointed; or what are the competencies required from a board member. Bahrain’s corporate governance rules as well as company law provide guidance on what needs to be done in this regard.

Company Law – Article 172: Company shall be managed by a board of directors the formation and term of which shall be specified in the company’s articles of association. The number of the board members shall be at least five members appointed for a period of three years renewable.

For Closed Joint Stock Companies however, the minimum number of directors should be at least 3 as per Company Law (Article 240).

CG Code – Principle 1.2: The board should have no more than 15 members, and should regularly review its size and composition to assure that it is small enough for efficient decision making yet large enough to have members who can contribute from different specialties and viewpoints.