Corporate Secretary, whose mission is to increase company’s management efficiency, is a key person in corporate governance system.
The proper implementation of corporate secretary roles in the corporate governance system implies the implementation of various functions and solutions. At the same the scope of the corporate secretary’s functions and tasks are determined by the peculiarities of the particular company (its size, development stages and pace, activity sector, property structure) as well as the degree of importance of corporate governance principles.
Conditionally functions of the corporate secretary can be divided into two groups:
Author’s Function. The presence of a corporate secretary in the company is an element of a corporate brand and proves that the company is open and ready to communicate with its beneficiaries. In other words, the formation of such a position in the company is an impetus for the company’s beneficiaries that the company has undertaken the commitment to improve the corporate governance system and as a development benchmark, recognizes its beneficiaries’ expectations, attempts to obtain their trust, manage their risks, and reinforce their business reputation.
Managing Functions: the corporate secretary follows the company’s legal compliance that is; his/her activities are aimed at maintaining the provisions of the law, the company’s charter and internal legal acts. It forms a management style, a particular company-specific corporate culture, which, in its turn, provides the company’s corporate identity and individuality. Strategically oriented secretaries greatly contribute to improving the company’s management system.
| Main functions of the Corporate Secretary are: | |
| support for the improvement of corporate governance practices |
organizing and conducting the preparatory work of the General Assembly |
| Preparation and conducting of meetings of the Board of Directors (Committees) | maintaining and disclosing corporate information, managing the document flow |
Source: Corporate Secretary in the Corporate Governance System.
This material has been prepared in the scope of the “Armenia: Promoting Anti-Corruption Conduct and Reforms” Project implemented by the “Center for International Private Enterprise”, the “Armenian Lawyers’ Association” NGO, the “Corporate Governance Center” NGO and the “Yerevan Chamber of Commerce and Industry” with financial support of the National Endowment for Democracy. The project is implemented as a co-financing to the “Commitment to Constructive Dialogue” action implemented with the financial support of the European Union by a Consortium comprising the “Armenian Lawyers’ Association” NGO, the “Armenian Center for Democratic Education-CIVITAS” NGO, the “International Center for Human Development” NGO, the “SME Cooperation Association” NGO, the Union of Communities of Armenia, as well as “Agora Central Europe” NGO (Czech Republic). The contents of this material are the sole responsibility of the “Armenian Lawyers’ Association” NGO and can in no way be taken to reflect the views of the National Endowment for Democracy and the European Union.
