"Governance Body" Head of Council of Delegates Active Delegate shall be elected by the equity shareholders Co-Active Delegate shall be elected by the equity shareholders Members of Council of Delegates Executive Delegates shall be elected by the equity shareholders Non Executive Delegates shall be elected by equity shareholders and nominated by the national government, provincial government, officers union of that corporate establishment and employees union of that corporate establishment Types of Delegates Residential Delegate Whole time Delegate Independent Delegate Alternate Delegate Women Delegate Additional Delegate Nominee Delegate Small Shareholder Delegate Shadow Delegate Casual Vaccancy Delegate Any other type of "Delegate" to be included The governance body is involved in long term strategic planning. Another task that the Governance Body is in charge of is the selection, dismissal, and designation of the members in the Management Body, to "ensure a long term succession planning". Cooperation Between bodies The Management Body has to closely cooperate with the Governance Body to develop the business strategy, this is done by creating a steady flow of information between the two. The information flow would include risk management, business development and any differences of the development of the business compared to the initial plan. Open discussions between members of the boards are also key to the functionality of the business under a Two Tier System, because these must exchange information frequently. Country systems Countries with two-tier boards include: Germany Austria Poland Indonesia China Countries where the option of a two-tier board is provided by law include: Belgium Italy France Romania See also European Company Statute Supervisory Board Executive Director References Board of directors