02 July 2024 I Briefing
Important Decision on the Expiration of Board Members’ Term of Office
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.