4.5 CEO - Chief Executive Officer (EU-VRi)
Last Approval by: Aleksandar S. Jovanovic, 19/Jan/19
Last Update by: Valeria Maraglino, 19/Oct/17

Definition :

Statutes (Articles of Association) of the European Virtual Institute for Integrated Risk Management (EU-VRi):


...(excerpt from the statutes)


Art. IV.4
General Responsibilities and Reporting of the CEO

a.The CEO runs the Grouping on a daily basis. He organizes and supervises the staffing and the operation of the “Secretariat”. The Secretariat's staffing, the duration of their appointment and the terms and conditions of their remuneration shall be approved by the “Executive Board.

b.The CEO performs her/his duties in agreement with the Executive Board and regularly reports to the Board and habitually to the President.


Art. IV.5
Powers of the CEO and non-executive Managers

a.The CEO carry out acts connected with the daily management of the Grouping, for example:

    • Sign day-to-day correspondence
    • Purchase, sell or rent goods
    • Issue invoices/receipts on behalf of the Grouping
    • Open bank accounts on behalf of the Grouping
    • Collect from the post office any correspondence and accept delivery of letters or packages addressed to the Grouping
    • Appoint and dismiss staff of the Grouping, determine their conditions, remuneration, salary, benefits, and all other conditions relating to their appointment or dismissal
    • Carry out all formalities for the registration of the Grouping with the German or the European authorities, for the updating of the Grouping's registration files and the filing of incorporation documents; the duties involve signing all documents and carrying out all formalities for the publication and registration of the Grouping with the appropriate Registers

b.The following acts of the CEO have to be countersigned by the President:

    • Purchase of goods or services, as well as the banking transactions, whose value is more than €25.000 per good or service item;
    • Loan agreements, whatever their nature or value;
    • Contracts between the Grouping and the European Commission or any regional, national or international body, public or private.

c.The particular duty of the “non-executive General Manager(s)” is to challenge the decisions of the CEO, and provide the second opinion when appropriate and/or requested by the Executive Board.

d.The Managers shall take acts and commitments on behalf of the Grouping only if such acts and commitments remain within the annual budget of the Grouping.

e.The work of the Managers may be remunerated in agreement with the Executive Board.

f.The CEO has the possibility of delegation according to Art. IV.4e in particular for the tasks mentioned in points a and b of this Article, except appointment and dismissing of staff.

g.The additional rights and duties of CEO are as follows:

    • Pay principal, interest and any sum the Grouping might owe
    • Cash and receive from the public administration, bank, company or person whatsoever, any sums or securities which may be due to the Grouping, as principal, interest etc, for any reason whatsoever

h.The CEO will regulate the rights related to the correspondence (use of the EU-VRi templates) and signature rights of the staff.

...(end of the excerpt)


Responsible to: the EU-VRi Founding members through the President and General Assembly of EU-VRi