Central Securities Depository Of IRAN

background

CSDI's Governance & Management Structure

 

CSDI is a Public Joint company run by the board of directors hereafter is called Board. The board members are elected on the basis of plurality vote at an extraordinary general assembly held every two years for this purpose. Natural people applying for the membership of the board must be approved by the Securities and Exchange Organization prior to the general assembly. The board chooses the CEO at its first meeting. The CEO's qualification must also be approved by the Securities and Exchange Organization. The annual General Shareholders Assembly chooses in unanimity an independent auditor / a legal inspector from the auditing firms reliable to the SEO, and an alternate inspector/auditor to carry out their duties and observing responsibilities designated in the related regulations and the company's articles of association for a one-year tenure every year so that it can assess its selected members’ efficiency in the Board of Directors. The Board of Directors forms their own professional and technical committees in order to meet their strategic duties. In their very first meeting, the board members decide upon the Chief Executive Officer of the company, who indeed is not the head of the Board but is the highest-ranking executive figure of the company for a two-consecutive-year term. Through the CEO, the Board of Directors fulfills the efficiency and performance of the company.