Evolution of the Concept of the Independent Supervisory Board Member Upon Charter Requirements in Polish Publicly Traded Banks Cover Image

Ewolucja koncepcji niezależnego członka rady nadzorczej na podstawie wymagań statutowych w polskich bankach publicznych
Evolution of the Concept of the Independent Supervisory Board Member Upon Charter Requirements in Polish Publicly Traded Banks

Author(s): Marek Szymański
Subject(s): Economy, National Economy, Business Economy / Management, Governance, Financial Markets
Published by: Społeczna Akademia Nauk
Keywords: independenboard members; publicly traded banks; corporate governance; duty of loyalty; two tier board

Summary/Abstract: The requirements concerning independent board members in Polish publicly traded banks’ charters changed significantly over the last decade. There are three main trends observed. First, the number of banks expecting independent supervisory board members increases. In 2006, less than 30% of banks listed on the Warsaw Stock Exchangehad the statutory requirement of having independent supervisory board members. 11 years later the percentage was 75%. Second, the number of requirements that independent members must meet doubled. In 2006, among 13 identified requirements for independent supervisory board members a single bank had 5 or 6. 11 years later the average number of requirements in a single charter is almost 10. Third, more emphasisis put on avoiding relationships between supervisory board members and management.

  • Issue Year: 19/2018
  • Issue No: 10.1
  • Page Range: 489-502
  • Page Count: 14
  • Language: Polish