Felügyelbizottság

Felügyelőbizottság translates from Hungarian to English as supervisory board. It is a body within a company or organization responsible for overseeing the management and operations. The primary role of a felügyelőbizottság is to ensure that the company is being managed in a way that is in the best interest of its shareholders and stakeholders. This typically involves monitoring the financial performance, strategic decisions, and ethical conduct of the executive management.

Members of a felügyelőbizottság are usually appointed from outside the company's day-to-day management, bringing an independent perspective. They do not participate in the operational management but rather act as a check and balance. Their duties can include approving major transactions, reviewing financial statements, and evaluating the performance of the CEO and other senior executives. In some corporate structures, the felügyelőbizottság may also have the power to appoint or dismiss members of the management board. The specific powers and responsibilities can vary depending on the legal framework of the country and the company's articles of association. The existence and function of a felügyelőbizottság are designed to enhance corporate governance and accountability.