The limited power for shareholders to appoint and dismiss management board members in Dutch listed companies

Bastiaan Kemp*, Sebastian Renshof

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review


Dutch listed companies make frequent and varied use of oligarchic clauses for the appointment and dismissal of management board members. As a result, shareholders in Dutch listed companies are often not free to nominate and appoint their own candidates for the management board. This contribution analyses the use and trends of these so-called oligarchic clauses by listed companies incorporated under Dutch law.
Original languageEnglish
Pages (from-to)37-44
Number of pages8
JournalEuropean Company Law
Issue number2
Publication statusPublished - Apr 2020


  • Oligarchic clauses
  • appointment and dismissal of management board members
  • listed companies

Cite this