-The ordinary general meeting is a meeting of the company’s shareholders to monitor the actions and decisions of the board of directors and the auditor. It is the heart of the company and the main driver of its management.
-The general meeting appoints and can dismiss the board of directors at any time, as well as appoint and dismiss the auditor. It also has the right to hold them accountable for compensation in case of errors, approve their actions, and absolve them from liability.
-The ordinary general meeting has the right to intervene in any action taken by the board of directors in managing the company if the board fails to do so for any reason. It is responsible for deciding on profit distribution or retention among shareholders, employees, and board members based on discussions during the annual budget review.
-Therefore, the ordinary general meeting is considered the heart of the company and its primary engine for management.
For further in-depth details, refer to “Al-Wafi Book on Corporate Law” theoretically and scientifically.
Doctor/Mahmoud Mostafa Abdallah
Doctor/Ola Mostafa Abdallah