English translation: The Management Board was granted formal discharge and approval for its management and accounting
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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:
der Vorstand wurde entlastet
The Management Board was granted formal discharge and approval for its management and accounting
Assuming the context of, e.g. an AGM at which the Management Board presents reports to the shareholders on the events of the year and possibly plans for the future, these reports will certainly include management decisions and financial matters (Profit and Loss / Budget, spin-offs, mergers, etc.).
1. Assuming that the purpose of the "Entlastung" is more or less to say: A)Well done lads, we recognize that you have fulfilled you duties and we approve of what you did, and B) you did what you were supposed to do (discharged your duties)and therefore we can discharge you (i.e there are no remaining obligations to unfulfilled duties for the year under report)
2. Even assuming that now the Board has to be re-elected, the above mentioned "discharge" leaves the way open to do this, since the old Board has been "discharged" - on the other hand, if there is to be no new Board, the old one can now carry on with a clean slate.
3. It strikes me that "The Board was formally granted discharge and approval for its management and accounting." covers all aspects of the reports presentend at the AGM, while "granted discharge" - to me - sound better than:
The Board was discharged for its management and accounting - which could mean they made a right old cock up of it and were thrown out on their necks.
Hi Steffen just a quick response - Re: DISCHARGING DUTIES
14:33 Jul 20, 2005
My earlier suggestion " ...for having duly discharged ...", I used it in the following sense: "discharge." Webster's Third New International Dictionary, Unabridged. Merriam-Webster, 2002. http://unabridged.merriam-webster.com ( 20 Jul. 2005). under meaning 3b)
FULFILL, EXECUTE I have one other little comment on this, which ties in with the BLUE FOX reference - just a minute and I'll find it.
What I was getting at was that, IMHO, the Board itself cannot "(duly) discharge (of) sth." - it's the shareholders who do that. I'd be hesitant using the verb "to discharge" this way, but perhaps it's just me...
However it still sounds a bit odd to me. For example, I suppose one could also say: The board was discharged for cooking the books and cheating the shareholders. Why not something like: The board received formal recognition and approval for having duly discharged its duties and responsibilites. Too long, of course, but clearer.
Thanks everyone - I am very relieved to have discharged my duties with the approval of my client who ratified my suggestion bla bla - Special thanks to Steffen Walter and Gabrielle. Krokodil cliched it with trhe reference to Price Waterhouse ...
The problem is that I have a client who is not happy with the actions of the poor old board simply being *approved* He wants to have them "entlastet" and insists that it must be something like "relieved, released, unburdened, disburdened" or something similar. I'm pretty sure we don't use any such words
tr.v. rat·i·fied, rat·i·fy·ing, rat·i·fies
To approve and give formal sanction to; confirm.
-------------------------------------------------- Note added at 43 mins (2005-07-20 10:17:33 GMT) --------------------------------------------------
Here\'s an example for you:
\"Following frequent and often venomous calls for his resignation at the AGM, Schrempp\'s board was ratified by just 88.5 percent of the shareholders attending the meeting, compared to 99.4 percent in the previous year.\"