Limited Liability Companies
Pursuant to the Romanian Companies Law, a Limited Liability Company (in Romanian: "societate cu răspundere limitată") must have the following organizational structure:
- One or more Managing Directors only (in Romanian: "Administrator").
Joint Stock Corporations
Pursuant to Romanian Companies Law, a Joint Stock Corporation (in Romanian: "societate pe acțiuni") may have one of the following organizational structures:
- A Board of Directors (in Romanian: "Consiliu de Administrație") or a Sole Director (in Romanian: "Administrator"); the Sole Director or the Board of Directors may delegate authority to an Executive Board (in Romanian: "Directori") or to a Sole Manager (in Romanian: "Director General").
- A Supervisory Board (in Romanian: "Consiliu de Supraveghere") and Executive Directors (in Romanian: "Directorat") or a Managing Director (in Romanian: "Director General").
Please see, respectively "Managing Directors", "Sole Director/Board of Directors", "Sole Manager/Executive Board" "Supervisory Board" and "Managing Director/Executive Directors" in the left side menu for a more in-depth description of each structure, including how to change the respective board members.
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.