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fremdnützig

English translation: outside director

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18:21 Jun 4, 2002
German to English translations [PRO]
Bus/Financial / Legal business
German term or phrase: fremdnützig
Jedes Aufsichtsratsmandat ist ein fremdnütziges Amt.

it feels as though it should be "altruistic" or "selfless" position - i.e., the opposite of self-serving

Many thanks in advance
Allan Wier
United States
Local time: 05:50
English translation:outside director
Explanation:
Each member of the board is appointed from outside (the company)

It means no senior management individuals double as board members (except the chairman, of course). The reason is that an outside director is (theoretically, at least) not beholden to any parochial interest (e.g. ties to the founding family or conflicting interests with peers) and brings an unbiased view to the affairs of the company, unlike senior staff who are by their very nature "insiders" with preconceived ideas as to how company business should be conducted.

Selected response from:

gangels
Local time: 03:50
Grading comment
Many thanks for the helpful, detailed explanation.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +5for the benefit of others
Kim Metzger
4outside directorgangels


  

Answers


9 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +5
for the benefit of others


Explanation:
This question was asked before, but in a medical context. Still, I think it would work here.

Kim Metzger
Mexico
Local time: 04:50
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 21825

Peer comments on this answer (and responses from the answerer)
agree  allemande: or, for the benefit of third parties
16 mins

agree  xxxninasc
22 mins

agree  Kathi Stock
27 mins

agree  xxxDr.G.MD
5 hrs

agree  schmurr: seems more probable than the proposal below
15 hrs
Login to enter a peer comment (or grade)

1 hr   confidence: Answerer confidence 4/5Answerer confidence 4/5
outside director


Explanation:
Each member of the board is appointed from outside (the company)

It means no senior management individuals double as board members (except the chairman, of course). The reason is that an outside director is (theoretically, at least) not beholden to any parochial interest (e.g. ties to the founding family or conflicting interests with peers) and brings an unbiased view to the affairs of the company, unlike senior staff who are by their very nature "insiders" with preconceived ideas as to how company business should be conducted.



gangels
Local time: 03:50
Native speaker of: Native in EnglishEnglish, Native in GermanGerman
PRO pts in pair: 5465
Grading comment
Many thanks for the helpful, detailed explanation.
Login to enter a peer comment (or grade)




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