Directors serve in their individual capacities and are not required to be affiliated with Council members. Thus, a change in their employment status or affiliation with a Council member does not change their standing as a Director (e.g., a Director is an employee of a Council member and, during their Board term, that employment relationship ends or, alternatively, an unaffiliated Director becomes an employee of a Council member during their term). As such, Hedera does not take any action when a Director’s affiliation changes other than to update all relevant public disclosures where Directors are listed.
When nominated individuals run for election to the Hedera Board, they present the Council members with certain biographical information that includes their affiliation with a Council member, if applicable. Directors have an ongoing duty to notify Council members of any changes to this information. Directors are elected for two-year terms and must reapply (with updated biographical information) to run for a new term.