STATUTORY DIRECTOR AND DIRECTOR LIABILITY
The statutory director is sometimes called the football manager of law: easier to dismiss than an employee and under certain circumstances even liable for damage suffered by the business and/or by third parties. We explain the risks and help draw up the agreements and contracts, and naturally provide support if things go or might go wrong.
The position of the statutory director is different than that of an employee, because this person is (in principle) appointed by the shareholder’s meeting. But that also applies to dismissal and even without requiring a preventive dismissal test. In other words, the statutory director can be dismissed just as easily as a football manager, for example when things aren’t going so well. Furthermore, as statutory director you must always be aware of the interests of the business and keep to certain rules and obligations so that you don’t face liability claims.
In short, make sure you are well informed and get good advice, and even more importantly, put agreements in writing. And particularly agreements, including financial agreements, in case you are dismissed. As we said, we are happy to help and advise you, all in a financially transparent way.