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:

1. 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:

1. 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”).
2. 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.