Find out everything you need to know about the CEO of a SASU, its attributions, its powers and its remuneration.
All SASU is led by a president. He exercises the role of corporate officer and is appointed by the sole shareholder. THE CEO of a SASU is vested with a number of powers and may (or may not) be remunerated. His mission may be terminated in very specific cases. Here is a complete fact sheet on the head of a SASU.
Find out everything you need to know about the CEO of a SASU, its attributions, its powers and its remuneration.
Allocation of the president of a SASU
The designation of leader of a SASU is the responsibility of thesole shareholder. The latter may take on the said functions or choose a person from outside the company. In the first case, it is necessary to appoint a natural person to represent the chairman. When creation of a SASU, the appointment of the chairman may be recorded in the articles of association or in a separate act (a report of the decisions of the sole shareholder). It is wiser to opt for the second solution because it is easier in the event of change of president of the SASU. If, on the other hand, it is necessary modify the statutes of the SASU, the corresponding formalities must be complied with. Finally, for the first president, his appointment must appear in the statutes and cannot be carried out by the minutes of decisions.
Remuneration of the manager of a SASU
The manager of a SASU can exercise his functions free of charge or remunerated. No legislative text defines compensation allocated to this holder of the management body. Therefore, the calculation methods are free. They can be fixed, variable or intermediate.
The terms of remuneration of the SASU manager must necessarily be stipulated by written, either in the articles of association or in separate minutes.
Capacities of the manager of a SASU
The capacities of the president of the SASU may possibly be limited by the regulations of this company. It is power restrictions which may oblige him, for example, to consult the sole shareholder before concluding a deed or even to collect a second signature before investing a certain amount of money in a project.
In the absence of details in the articles of association, he has the the broadest powers to act legally in any situation on behalf of the company within the limits of the corporate purpose. These requirements apply in relations between the sole shareholder and the chairman.
With regard to the president-third party relationship, the restrictions of powers have no effect (the act concluded in derogation of the powers remains valid) unless the third party was aware of the overrun or could not ignore this fact taking into account the circumstances. It is the President's responsibility to answer for his actions for all the detrimental consequences caused by the overstepping of powers.
Social status of the manager of a SASU
Le CEO of a SASU, whether uniquely associated or not, is comparable to an employee in terms of social security. He will contribute to the general social security system and his remuneration will be affected by payroll taxes and employers' payroll taxes.
However, he cannot benefit from the provisions provided for in the Labor Code, in particular with regard to minimum wages (SMIC) or compensation (unemployment). If he is not paid, he will not be covered by social protection.
End of the function of the president of SASU
La termination of the functions of president of a SASU can have several causes:
- THEexpiration of his mandate as specified in the articles of association or in his deed of appointment,
- La revocation by the sole shareholder according to the conditions stipulated in the articles of association,
- La démission in compliance with the conditions set by the articles of association,
- La transformation of the SASU into another form of society,
- The occurrence of an event affecting him personally (death or dissolution, prohibition to manage, personal bankruptcy or any other event provided for in the articles of association)
The president represents a SASU in its relations with third parties. All the provisions concerning his corporate office are generally provided for in the statutes of the SASU or, for some of them, in a separate document.
