Société par actions simplifiée

Société par actions simplifiée (Simplified Joint Stock Company) is more or less the French equivalent of the limited company of English law. A société par actions simplifiée has its annual statements controlled by an independent body, and the annual summary and balance sheet are published. The head of a société par actions simplifiée is its Président (Chairman). However, this company, unlike the société anonyme, does not have a board. The Président is also responsible for the operation of the company. The company may also have a Directeur Général (General manager), who has the same authority as the Président with respect to third parties.