Article 300 — Chairperson of the Board of Directors

1/ Only a director who is a shareholder may become the chairperson of the board of directors. A director who takes part in the day-to-day management of the affairs of the company may not become the chairperson of the board of directors. 2/ The chairperson of the board of directors, and where appropriate a deputy chairperson, may be elected by a meeting of subscribers or shareholders. The board shall elect a chairperson or deputy chairperson from among its members where no chairperson or deputy chairperson has been elected by the meeting. 3/ The board may revoke at any time the appointment of a chairperson or deputy chairperson elected by the board.