In summary, the composition of two-tier boards seems to be strictly divided in executive and non-executive directors who have different legal responsibilities. Executive managing directors are seated in the management board. The separate supervisory board is composed entirely of non-executive supervisory directors. Board leadership is also formally separated from executive board responsibilities. This means that CEO-duality is not possible in two-tier boards. The formation of board committees in two-tier boards is not enforced by legislation or stock exchanges. Supervisory boards are also not necessarily co-determinated. The supervisory board in Germany has directors representing employees while the Dutch two-tier board operates without employee representatives. The differences between the attributes of one-tier and two-tier boards are summarized in table 3.2.