Management board in ApS Company

A management board is mandatory for a Danish limited liability company. The management board is responsible for the company’s daily operations and can also take on strategic management responsibilities if a board of directors or supervisory board is not established. On the other hand, a board of directors is responsible for setting the company’s strategic direction.

The management structure of a company must be specified in its articles of association. When an executive board and a supervisory board are both created, they will collaborate closely but have separate roles. The executive board is accountable to the board of directors and is in charge of executing the established strategy. If only an executive board is established, it will be the sole management entity responsible for both day-to-day and strategic management. A supervisory board can be substituted with a supervisory council.

In a private limited company, there are two types of owners: beneficial owners and legal owners. The beneficial owners are natural persons who own more than 25% of the company or have more than 25% of the voting rights, either directly or indirectly. They may also have other forms of control, such as the ability to appoint board members or veto rights.

The legal proprietors of a private limited company can comprise both individuals and corporations. They must possess at least 5% of the company's capital and/or 5% of the voting rights.

To protect the ownership interest of co-owners in a private limited company, they may have the right of first refusal when one of them wants to sell their shares. This means that they have the opportunity to purchase the shares before anyone else can acquire them. However, this right must be agreed upon in a shareholders' agreement or described in the company's articles of association, as it is not automatically granted to the owners.