Company Management

As stipulated in ČEPS’s Articles of Incorporation, the Company is governed by the following three statutory bodies: the General Meeting of Shareholders, the Supervisory Board, and the Board of Directors.

The Annual General Meeting of Shareholders (AGM) is the Company’s supreme governing body and has the power to change the Company’s Articles of Incorporation so as to establish further statutory bodies relating to the Company, specify their competences and responsibilities, the decision-making procedure and term of office.

The AGM elects members to and removes them from the Supervisory Board except for those members who are elected by Company employees in compliance with legislation and the Company’s Articles of Incorporation.

The Supervisory Board consists of nine members As stipulated in ČEPS’s Articles of Incorporation. The Supervisory Board is responsible for electing and removing members of the Board of Directors and overseeing the decisions of the Board of Directors and the Company’s general business performance.

The Board of Directors is responsible for the day-to-day management of the Company and acts on its behalf. The Board defines strategy, is responsible for the Company’s commercial and business management, exercises employer rights, convenes General Meetings of Shareholders and regularly provides information on its activities to the Supervisory Board. The competence and responsibilities of the Board of Directors are fully defined in the Company’s Articles of Incorporation (Article 20) approved by the General Meeting of Shareholders and deposited in the Document Collection of the Commercial Register at the Municipal Court in Prague.