{"id":48590,"date":"2023-03-26T10:00:58","date_gmt":"2023-03-26T07:00:58","guid":{"rendered":"https:\/\/koumentakislaw.gr\/articles\/ypoxreoseis-epimeleias-epopteias-ds\/"},"modified":"2026-08-28T09:02:54","modified_gmt":"2026-08-28T06:02:54","slug":"diligence-supervision-obligations-of-the-board","status":"publish","type":"post","link":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/","title":{"rendered":"Diligence & Supervision Obligations of the Board"},"content":{"rendered":"

In a previous article <\/strong><\/a>we dealt with the legality obligation of the members of the Board of Directors and the <\/strong><\/a>substitute <\/strong><\/a>bodies<\/strong><\/a>. Here we will be concerned with the other two obligations of the duty of care. These are: the duty of due diligence (stricto sensu) and the duty to supervise and control the organization and operation of the SA. The specific obligations seem (exhaustingly) theoretical. However, any non-exercise (or wrongful exercise) activates the responsibilities of the liable members of the Board of Directors. And the specific responsibilities are not at all, not at all, theoretical. They are both present and tangible!<\/p>\n

 <\/p>\n

Duty of Care (\u201cStricto Sensu\u201d)<\/strong><\/h2>\n

Concept \u2013 Content<\/strong><\/p>\n

The content of the specific obligation of the members of the Board of Directors (art. 96 \u00a71 sec. b’ & 102 \u00a72 Law 4548\/2018) consists in their observing (:enforced) due diligence in the performance of their duties. Its measure will always be the diligence of the prudent businessman. The specific concept may seem vague, but it is a specific and, under certain conditions, safe criterion: what would the prudent businessman do in each specific case and under the given circumstances, each time? The specific evaluation can be carried out, exclusively, by the competent court.<\/p>\n

Diligent management can only be exercised within the limits of the law. Also, within the limits, powers and responsibilities of the consultant from any contract or assignment of duties. It therefore seems reasonable to expect increased diligence from the CEO of the SA compared to a simple, non-executive member of the Board).<\/p>\n

It should also be noted that the way of exercising (diligent) corporate management can also be determined by some important, exogenous, parameters; even non-binding ones. Indicative: trading habits, codes or guides of conduct (e.g. corporate governance rules), etc.<\/p>\n

Application<\/strong><\/p>\n

The most basic functions of the specific obligation, according to the theory (: foreign and Greek legal theory alike) consist of:<\/p>\n

(a) Formulation of business policy: <\/strong>The members of the Board of Directors are required to formulate the business strategy of the company. The latter (:business strategy) must be based on (qualitative and quantitative) sufficient information and corresponding data. The members of the Board of Directors, in this context, must prepare the business plan of the business, with content of the short-term (ideally and medium -long-term) goals of the business. However, the set of policies adopted and decisions taken by the members of the Board of Directors must not harm the interests of those who derive rights from the company (e.g. creditors or employees). They should also be inspired by a sense of social responsibility.<\/p>\n

(b) Financial management: <\/strong>Ensuring the necessary liquidity is also an obligation of the members of the Board of Directors. Also, the identification of a comprehensive funding plan to assist the survival and development of the SA. Also, to cover potential problematic situations (e.g. turnover limitation and\/or any financial hardship).<\/p>\n

(c) Exercise control and supervision of the operations of the SA: <\/strong>The members of the Board of Directors are obliged to exercise supervision and control of the operation of the company-generally. The purpose is to confirm the implementation of the policies adopted by the SA as well as to carry out any corrective interventions. In this context, the replacement of individual supervision by suitable structures for this purpose is convenient. Such as, indicatively, regulatory compliance units (“compliance”), which are of particular importance and value for financial institutions, the largest legal entities and groups of companies.<\/p>\n

(d) Organization of the SA: <\/strong>The members of the Board of Directors are responsible for the efficient internal structure of the company, with the aim, among other things, of optimal operation, supervision and information. This is achieved, expressly for listed companies, through appropriate organizational structures (see art. 13 & 14 of Law 4706\/2020 for listed companies).<\/p>\n

(e) Ensuring the flow of information: <\/strong>Finally, the members of the Board of Directors are obliged to ensure the accuracy of the information within the SA. Also, the security and completeness of (mainly incoming) information. Likewise, their diffusion among all advisers. Ignorance, however, is not a (legitimate) option. Ensuring the flow of information between the members of the Board of Directors is necessarily a collective obligation and responsibility of the body.<\/p>\n

 <\/p>\n

Duty of Supervision<\/strong><\/h2>\n

Concept<\/strong> \u2013 <\/strong>Content<\/strong><\/h3>\n

The duty of supervision (96 \u00a71 para. b’) falls on all members of the Board of Directors. It belongs, so to speak, to the responsibilities of the collective body<\/strong><\/a> [2041\/2018 Supreme Court (Penal), NOMOS Legal Database]. This specific obligation claims:<\/p>\n

(a) Horizontal monitoring: <\/strong>This is a case of self-monitoring. Each member of the Board of Directors has the right and, at the same time, the obligation to check whether the other members (and substitute bodies) comply, in the exercise of their powers, with the law, the statutes and their other obligations. Increased supervision obligations of a specific member, e.g. of the president, are not recognized (not even by law); after all, such a thing is not consistent with their duties of a coordinating nature.<\/p>\n

Effective supervision cannot be understood without adequate information. Consequently, each supervising member has an (unlimited and irrevocable) claim to information against each supervisee – in relation to the latter’s field and mode of action. But vice versa, the supervising member is obliged – equally subject to control – to inform the other members of the Board regarding the fulfillment of their assigned duties.<\/p>\n

It should be noted here that implicit or de facto delegation of duties is not accepted – it does, however, find jurisprudential support on the basis of general interpretative rules (173-200 Civil Code). Also, delegating duties to members of the Board of Directors is not allowed regarding decisions, the taking of which belongs to the competence of the Board of Directors as a collective body. However, the assignment of specific duties also implies matching them with specific members of the Board of Directors (art. 102 \u00a71). Therefore, it is impossible for the company to hold individually liable a member of the Board of Directors \u2013 deriving from (unrelated to them) duties, which were either not performed or were performed improperly.<\/p>\n

In order for a liable member of the Board of Directors to be relieved of their responsibility due to the faulty performance of their duties, they are entitled to invoke, e.g., a lawful decision of the General Assembly (art. 102 \u00a74) or that they paid the due diligence of a prudent entrepreneur operating in similar circumstances (370\/2018 Supreme Court, NOMOS Legal Database).<\/p>\n

The other members of the Board of Directors, however, may be burdened with culpability (e.g. gross negligence) regarding the (wrong) selection of the member of the Board of Directors, who improperly fulfills their obligations. Probably, due to their -by objective judgment- unsuitability for the performance of the tasks assigned to them. The assignment of duties to one member of the Board of Directors does not mean the absolute release of the others from all their obligations. On the contrary, they are obliged to exercise continuous supervision. After all, it is not excluded that the illegal (or misdemeanor) action of a member is causally connected (also) to insufficient control by the other members of the Board of Directors. In this case, there will be grounds for attribution of responsibility against the latter. The appropriate measure of supervision requires that the belief in the abilities of each of the members by the others be on the basis of objective criteria (e.g. the nature and importance of the tasks assigned, the seniority in the company, etc.).<\/p>\n

(b) Vertical monitoring: <\/strong>Vertical monitoring is the supervision by a competent member of the Board of Directors of the executives or employees of the company who operate under them.<\/p>\n

Further delegation of administrative responsibilities (usually referred to as a ‘standard’ procedure) is, in fact, a complex decision. Both at the stage of selecting the member and at the stage of exercising their responsibilities.<\/p>\n

The supervising member of the Board must, initially, demonstrate due responsibility during the partner selection stage. To weigh, therefore, individual subjective (: professional and personal) qualities of theirs (316\/2010 Multimember Court of First Instance of Larissa, NOMOS Legal Database). In the event of (an afterwards proven) failure, they will have, at the very least, mitigated their personal responsibility. The supervising member must guide and advise the supervisee.<\/p>\n

Otherwise, in terms of the scope and intensity of the supervision exercised, what was mentioned above for the horizontal monitoring applies.<\/p>\n

 <\/p>\n

The choice (or acceptance of a relevant proposal) to participate in a Board of Directors as a member of it seems, in the eyes of most of us, a “standard” procedure. However a matter of formality it may seem and however theoretical the obligations of the members of the Board of Directors may be, they do not cease to be both present and existing. Possible violation of these “theoretical” obligations gives rise to personal (and not negligible) responsibility of the members.<\/p>\n

\"\"<\/p>\n

Stavros Koumentakis<\/a>
\nManaging Partner<\/em><\/p>\n

The information contained in this article does not constitute (nor is it intended to constitute) legal advice. Such legal advice may only be provided by a qualified lawyer who has taken into account all the facts and circumstances of your particular case.<\/em> Read more<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

In a previous article we dealt with the legality obligation of the members of the Board of Directors and the substitute bodies. Here we will be concerned with the other two obligations of the duty of care. These are: the duty of due diligence (stricto sensu) and the duty to supervise and control the organization […]<\/p>\n","protected":false},"author":5,"featured_media":48591,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[1196,53,1178,1213,1214,110,1177,1208,1209,1210,1189,1211,335,1212],"class_list":["post-48590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-board-liability","tag-board-of-directors","tag-business-strategy","tag-ceo-duties","tag-compliance","tag-corporate-governance","tag-due-diligence","tag-duty-of-care","tag-duty-of-supervision","tag-financial-management","tag-greek-corporate-law","tag-internal-controls","tag-law-4548-2018","tag-non-executive-directors"],"acf":[],"yoast_head":"\nDiligence and Supervision Obligations of a board - KOUMENTAKIS<\/title>\n<meta name=\"description\" content=\"Diligence and Supervision Obligations of the board as well as control, including business strategy, financial management, information flow and member liability.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Diligence and Supervision Obligations of a board - KOUMENTAKIS\" \/>\n<meta property=\"og:description\" content=\"Diligence and Supervision Obligations of the board as well as control, including business strategy, financial management, information flow and member liability.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/\" \/>\n<meta property=\"og:site_name\" content=\"Koumentakis & Associates\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-26T07:00:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-28T06:02:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2023\/04\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1228\" \/>\n\t<meta property=\"og:image:height\" content=\"691\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Stavros Koumentakis\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"9 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/\"},\"author\":{\"name\":\"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#\\\/schema\\\/person\\\/b79f628f61af179023579e7abf7f98c0\"},\"headline\":\"Diligence & Supervision Obligations of the Board\",\"datePublished\":\"2023-03-26T07:00:58+00:00\",\"dateModified\":\"2026-08-28T06:02:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/\"},\"wordCount\":1525,\"publisher\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/koumentakislaw.gr\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg\",\"keywords\":[\"Board Liability\",\"board of directors\",\"Business Strategy\",\"CEO Duties\",\"Compliance\",\"corporate governance\",\"Due Diligence\",\"Duty of Care\",\"Duty of Supervision\",\"Financial Management\",\"Greek Corporate Law\",\"Internal Controls\",\"Law 4548\\\/2018\",\"Non-Executive Directors\"],\"articleSection\":[\"Articles\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/\",\"url\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/\",\"name\":\"Diligence and Supervision Obligations of a board - KOUMENTAKIS\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/koumentakislaw.gr\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg\",\"datePublished\":\"2023-03-26T07:00:58+00:00\",\"dateModified\":\"2026-08-28T06:02:54+00:00\",\"description\":\"Diligence and Supervision Obligations of the board as well as control, including business strategy, financial management, information flow and member liability.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/#primaryimage\",\"url\":\"https:\\\/\\\/koumentakislaw.gr\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg\",\"contentUrl\":\"https:\\\/\\\/koumentakislaw.gr\\\/wp-content\\\/uploads\\\/2023\\\/04\\\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg\",\"width\":1228,\"height\":691},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/articles\\\/diligence-supervision-obligations-of-the-board\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"\u0391\u03c1\u03c7\u03b9\u03ba\u03ae\",\"item\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Diligence & Supervision Obligations of the Board\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/\",\"name\":\"\u039a\u039f\u03a5\u039c\u0395\u039d\u03a4\u0391\u039a\u0397\u03a3 & \u03a3\u03a5\u039d\u0395\u03a1\u0393\u0391\u03a4\u0395\u03a3 \u0394\u03b9\u03ba\u03b7\u03b3\u03bf\u03c1\u03b9\u03ba\u03ae \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#organization\",\"name\":\"\u039a\u039f\u03a5\u039c\u0395\u039d\u03a4\u0391\u039a\u0397\u03a3 & \u03a3\u03a5\u039d\u0395\u03a1\u0393\u0391\u03a4\u0395\u03a3 \u0394\u03b9\u03ba\u03b7\u03b3\u03bf\u03c1\u03b9\u03ba\u03ae \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\",\"url\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/koumentakislaw.gr\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/KOUMENTAKIS-ASSOCIATES.svg\",\"contentUrl\":\"https:\\\/\\\/koumentakislaw.gr\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/KOUMENTAKIS-ASSOCIATES.svg\",\"caption\":\"\u039a\u039f\u03a5\u039c\u0395\u039d\u03a4\u0391\u039a\u0397\u03a3 & \u03a3\u03a5\u039d\u0395\u03a1\u0393\u0391\u03a4\u0395\u03a3 \u0394\u03b9\u03ba\u03b7\u03b3\u03bf\u03c1\u03b9\u03ba\u03ae \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1\"},\"image\":{\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/#\\\/schema\\\/person\\\/b79f628f61af179023579e7abf7f98c0\",\"name\":\"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/54d2ae0b1c284cc764f4a0f758e8333d1a47d6b2fc21b1c454f9964f907354ea?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/54d2ae0b1c284cc764f4a0f758e8333d1a47d6b2fc21b1c454f9964f907354ea?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/54d2ae0b1c284cc764f4a0f758e8333d1a47d6b2fc21b1c454f9964f907354ea?s=96&d=mm&r=g\",\"caption\":\"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2\"},\"url\":\"https:\\\/\\\/koumentakislaw.gr\\\/en\\\/author\\\/skoumentakis\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Diligence and Supervision Obligations of a board - KOUMENTAKIS","description":"Diligence and Supervision Obligations of the board as well as control, including business strategy, financial management, information flow and member liability.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/","og_locale":"en_US","og_type":"article","og_title":"Diligence and Supervision Obligations of a board - KOUMENTAKIS","og_description":"Diligence and Supervision Obligations of the board as well as control, including business strategy, financial management, information flow and member liability.","og_url":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/","og_site_name":"Koumentakis & Associates","article_published_time":"2023-03-26T07:00:58+00:00","article_modified_time":"2026-08-28T06:02:54+00:00","og_image":[{"width":1228,"height":691,"url":"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2023\/04\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg","type":"image\/jpeg"}],"author":"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Stavros Koumentakis","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/#article","isPartOf":{"@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/"},"author":{"name":"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2","@id":"https:\/\/koumentakislaw.gr\/en\/#\/schema\/person\/b79f628f61af179023579e7abf7f98c0"},"headline":"Diligence & Supervision Obligations of the Board","datePublished":"2023-03-26T07:00:58+00:00","dateModified":"2026-08-28T06:02:54+00:00","mainEntityOfPage":{"@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/"},"wordCount":1525,"publisher":{"@id":"https:\/\/koumentakislaw.gr\/en\/#organization"},"image":{"@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/#primaryimage"},"thumbnailUrl":"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2023\/04\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg","keywords":["Board Liability","board of directors","Business Strategy","CEO Duties","Compliance","corporate governance","Due Diligence","Duty of Care","Duty of Supervision","Financial Management","Greek Corporate Law","Internal Controls","Law 4548\/2018","Non-Executive Directors"],"articleSection":["Articles"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/","url":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/","name":"Diligence and Supervision Obligations of a board - KOUMENTAKIS","isPartOf":{"@id":"https:\/\/koumentakislaw.gr\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/#primaryimage"},"image":{"@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/#primaryimage"},"thumbnailUrl":"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2023\/04\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg","datePublished":"2023-03-26T07:00:58+00:00","dateModified":"2026-08-28T06:02:54+00:00","description":"Diligence and Supervision Obligations of the board as well as control, including business strategy, financial management, information flow and member liability.","breadcrumb":{"@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/#primaryimage","url":"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2023\/04\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg","contentUrl":"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2023\/04\/Koumentakis-and-Associates-ypoxreosh-epimeleias-Article-Stavros-Koumentakis-01-eng.jpg","width":1228,"height":691},{"@type":"BreadcrumbList","@id":"https:\/\/koumentakislaw.gr\/en\/articles\/diligence-supervision-obligations-of-the-board\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"\u0391\u03c1\u03c7\u03b9\u03ba\u03ae","item":"https:\/\/koumentakislaw.gr\/en\/"},{"@type":"ListItem","position":2,"name":"Diligence & Supervision Obligations of the Board"}]},{"@type":"WebSite","@id":"https:\/\/koumentakislaw.gr\/en\/#website","url":"https:\/\/koumentakislaw.gr\/en\/","name":"\u039a\u039f\u03a5\u039c\u0395\u039d\u03a4\u0391\u039a\u0397\u03a3 & \u03a3\u03a5\u039d\u0395\u03a1\u0393\u0391\u03a4\u0395\u03a3 \u0394\u03b9\u03ba\u03b7\u03b3\u03bf\u03c1\u03b9\u03ba\u03ae \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1","description":"","publisher":{"@id":"https:\/\/koumentakislaw.gr\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/koumentakislaw.gr\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/koumentakislaw.gr\/en\/#organization","name":"\u039a\u039f\u03a5\u039c\u0395\u039d\u03a4\u0391\u039a\u0397\u03a3 & \u03a3\u03a5\u039d\u0395\u03a1\u0393\u0391\u03a4\u0395\u03a3 \u0394\u03b9\u03ba\u03b7\u03b3\u03bf\u03c1\u03b9\u03ba\u03ae \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1","url":"https:\/\/koumentakislaw.gr\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/koumentakislaw.gr\/en\/#\/schema\/logo\/image\/","url":"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2026\/06\/KOUMENTAKIS-ASSOCIATES.svg","contentUrl":"https:\/\/koumentakislaw.gr\/wp-content\/uploads\/2026\/06\/KOUMENTAKIS-ASSOCIATES.svg","caption":"\u039a\u039f\u03a5\u039c\u0395\u039d\u03a4\u0391\u039a\u0397\u03a3 & \u03a3\u03a5\u039d\u0395\u03a1\u0393\u0391\u03a4\u0395\u03a3 \u0394\u03b9\u03ba\u03b7\u03b3\u03bf\u03c1\u03b9\u03ba\u03ae \u0395\u03c4\u03b1\u03b9\u03c1\u03b5\u03af\u03b1"},"image":{"@id":"https:\/\/koumentakislaw.gr\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/koumentakislaw.gr\/en\/#\/schema\/person\/b79f628f61af179023579e7abf7f98c0","name":"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/54d2ae0b1c284cc764f4a0f758e8333d1a47d6b2fc21b1c454f9964f907354ea?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/54d2ae0b1c284cc764f4a0f758e8333d1a47d6b2fc21b1c454f9964f907354ea?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/54d2ae0b1c284cc764f4a0f758e8333d1a47d6b2fc21b1c454f9964f907354ea?s=96&d=mm&r=g","caption":"\u03a3\u03c4\u03b1\u03cd\u03c1\u03bf\u03c2 \u039a\u03bf\u03c5\u03bc\u03b5\u03bd\u03c4\u03ac\u03ba\u03b7\u03c2"},"url":"https:\/\/koumentakislaw.gr\/en\/author\/skoumentakis\/"}]}},"_links":{"self":[{"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/posts\/48590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/comments?post=48590"}],"version-history":[{"count":4,"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/posts\/48590\/revisions"}],"predecessor-version":[{"id":48676,"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/posts\/48590\/revisions\/48676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/media\/48591"}],"wp:attachment":[{"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/media?parent=48590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/categories?post=48590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/koumentakislaw.gr\/en\/wp-json\/wp\/v2\/tags?post=48590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}