The sole executive body of the business entity in the system of corporate governance

Business entities attributable by the civil legislation to the corporate legal entities (corporations), have a control system that includes various bodies that have the competence on carrying out the functions of decision and control, due to the fact that the society is not a body of persons, but the union of capitala. The company’s executive bodies are the key link of the corporate governance structure. The executive system may include only the sole authority or the sole and collegial bodies. The article is devoted to studying the competence of the sole executive body of a business company, closely linked to the question of his civil liability because the liability arises due to the breach of the duties of sole executive authority shall be responsible, as well as the analysis of the amendments to the Civil code of the Russian Federation (hereinafter - Civil code) relating to the possibility to include in the Charter the provision of powers of sole executive body to several persons acting jointly or formation of several sole executive bodies acting independently of each other.