TITLE II: Provisions specific to various commercial companies.

It may be stipulated in the articles of any public limited company that it is governed by the provisions of this sub-section. In this case, the company remains subject to all the rules applicable to sociétés anonymes, with the exception of those provided for in articles L. 225-17 to L. 225-56. The introduction in the Articles of Association of this stipulation, or its deletion, may be decided during the existence…

The société anonyme is managed by a Management Board consisting of no more than five members. The composition of the Management Board shall endeavour to seek a balanced representation of women and men. In sociétés anonymes whose capital is less than 150,000 euros, the functions vested in the Management Board may be exercised by a single person. The Management Board shall exercise its functions under the control of a Supervisory…

The members of the Management Board are appointed by the Supervisory Board, which confers on one of them the status of Chairman. When a single person performs the functions devolved to the Management Board, he takes the title of sole Managing Director. On pain of nullity of the appointment, the members of the Management Board or the sole Managing Director shall be natural persons. They may be chosen from outside…

The Articles of Association must provide for an age limit for the performance of the duties of member of the Management Board or sole Managing Director which, in the absence of an express provision, is set at sixty-five years. Any appointment made in breach of the provisions set out in the previous paragraph shall be null and void. When a member of the Management Board or the sole Managing Director…

Members of the Management Board or the sole Managing Director may be dismissed by the General Meeting and, if the Articles of Association so provide, by the Supervisory Board. If the dismissal is decided without just cause, it may give rise to damages. In the event that the person concerned has entered into an employment contract with the company, the dismissal from his duties as a member of the Management…

The Articles of Association determine the term of office of the Management Board, which may be between two and six years. In the absence of a provision in the Articles of Association, the term of office is four years. In the event of a vacancy, the replacement is appointed for the time remaining until the Management Board is renewed.

The deed of appointment shall determine the method and amount of remuneration for each member of the Management Board.