Karl da Kraut wrote:SUPERVISORY boards
You are perfectly correct, I goofed on that one.
Advisory Board is rather Beirat
Concernig most literal vs. best translations:
It practically never happens in Germany that supervisory mandates of indiviuals only comprise chairman positions. Thus, an individual customarily can only be chairman of some
of the supervisory boards he belongs to.
Furthermore die Industrie
is a common pars pro toto
expression for the collective whole of all industrial firms (like die Wirtschaft
signifies the collective whole of all commercial activity), not customary in English though, were "the industry" rather denotes a particular industry (e.g. chemical industry). To differentiate with regard to a particular industry (singular) it makes sense to translate it with a plural therefore...
Concerning differences in corporate governance:
means the board of non-executive
directors, while the chairman of the board must not
be identical with the CEO (Vorstandsvorsitzender
) of the same firm in Germany. The way that is usually handled is that the CEO of firm 1 is also chairman of the board in firm 2 (the concurrence of chairman and CEO positions in that respect is similarly high), while theoretically there is no requirement to be CEO elsewhere to chair a board.
The principle of Weiss belonging to other supervisory boards here is that the 2nd level ( Generalbevollmächtigter
) below the executive board of Flick was "planted" into other supervisory boards to sort of exert influence there (not uncommon to what large banks do today in a very similar fashion)
Agree Karl ? (gee, we should start a translation bureau together, what do you mean...?