igazgatótanácsai

In Hungarian corporate governance, the term *igazgatótanácsai* (plural of *igazgatótanácsos*) refers to members of the executive board, commonly known as the *management board* or *executive committee* in English. These individuals play a central role in the day-to-day management of a company, overseeing operational decisions and implementing strategies approved by the supervisory board (*felügyelőtanács*).

The composition of the *igazgatótanács* (executive board) is typically determined by the company’s articles of association or bylaws, often in alignment with legal requirements under Hungarian law. Members may be appointed by the supervisory board or, in some cases, by the general assembly of shareholders, depending on the corporate structure. Their roles can vary, but they generally include the CEO (*vezérigazgató*) and other senior executives responsible for specific departments or functions.

In publicly listed companies, the separation of powers between the executive and supervisory boards is a key principle of corporate governance, ensuring accountability and preventing conflicts of interest. The *igazgatótanácsosok* are expected to act in the best interests of the company, balancing efficiency with compliance. Their decisions often require approval from the supervisory board for major strategic or financial matters.

The legal framework governing executive boards in Hungary is primarily outlined in the *Civil Code* (2013) and the *Act on Public Limited Companies* (2013), which define their authority, duties, and potential liabilities. Transparency and ethical conduct are emphasized, with reporting obligations to shareholders and regulatory bodies. The role of *igazgatótanácsosok* is thus critical in ensuring the effective and responsible management of Hungarian companies.