Can a partner or a member of the Board of Directors transfer his/her share and maintain his/her membership of the Board of Directors? (In Turkey)
The sole owner of the Joint Stock Company wants to transfer 100% of the company’s shares to another person. The person who will transfer the company would like to continue to act as a member of the Board of Directors in the company he/she transferred. In this case, should I continue the membership of the board of directors of the person who transferred his/her shares, or should I make him/her resigned and reassign him/her?
The member can complete its period remaining externally as a member of the board of directors who leaves without the election in this process unless otherwise decided by the general assembly or by a judicial decision of the board of directors. There is not any regulation or practice that prevents this situation.
Source: İSMMMO
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