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Prohibition of Parallel Conduct of Board Membership and Employment in the Czech Republic and its Legal Consequences

December 2011
Corporate GovernanceIndustry

Abstract

The Supreme Administrative Court of the Czech Republic opened by its judgment dated 9th December 2010 further questions related to the relationship between a Czech company and its statutory directors or members of the Board of Directors or members of the Supervisory Board by defining further legal consequences of the invalidity of parallel employment in a management position and performance of function of the statutory director or member of the Board of Directors or member of the Supervisory Board, namely in relation to the social insurance which may have, however, potentially consequences also for the health insurance and tax position of the statutory directors or members of the Board of Directors or members of the Supervisory Board.

Author

Portrait image of Richard Bacek
Richard Bacek
General Counsel of Siemens Czech Republic, Romania and Slovakia, Siemens, s.r.o., Czech Republic

Richard Bacek joined Siemens in 2009 as General Counsel for Siemens Czech Republic. Since 2015 he has performed also the role of General Counsel for Siemens Slovakia and since 2016 for Siemens Romania. Prior to 2009, Richard Bacek worked as attorney for international law firms in Prague. Richard Bacek is member of the Appeal Committee of the Czech National Bank and Chairman of the Disciplinary Committee of the Football Association of the Czech Republic

Company

Siemens, s.r.o.

Siemens is international industrial group active in industry automation, energy, mobility, building technologies, healthcare and other business. In many of these sectors Siemens participates in public procurement processes.

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