Board structure is an important component of the individual governance of firms, and the appropriateness of the various models is one of the most debated issues in corporate governance today. A comparison of the Nordic and German approaches to the structure of corporate boards reveals stark conceptual differences, as emphasized by the 2014 Lekvall Report on the Nordic Corporate Governance Model. This article provides a conceptual comparison between the two approaches to board structure and confirms the fundamental divergence between both models. However, relying on a number of recent legal changes and developments in business practice, the article argues that board practices in the two systems effectively blur the structural distinction, and that board organization is converging in practice. It thereby contributes to the broader debates on functionality and comparative corporate law and governance.
|Journal||Nordic Journal of Business|
|Publication status||Published - 2016|