The members of the Board of Directors are elected for terms of one year. The staff-elected members of the Board of Directors are, however, elected for the period 2016-2020. The Board of Directors must include at least one bondholder member of the Committee of Representatives and one member of each of the member-elected electoral groups of the Committee of Representatives. This means that one member of the Personal Customers and Business Customers electoral groups, respectively, are represented on the Board of Directors.
The Board of Directors appoints the members of the Executive Board.