Because GIZ is incorporated under German law as a GmbH (limited liability company), it is governed by a management board that acts on behalf of the company's shareholders and is monitored by a supervisory board. Additionally, GIZ also has a Board of Trustees and a Private Sector Advisory Board. GIZ's management board consists of three managing directors, namely Tanja Gönner (Chairperson), Thorsten Schäfer-Gümbel and Ingrid-Gabriela Hoven. The Federal Republic of Germany (represented by the Federal Ministry for Economic Cooperation and Development (BMZ) and the Federal Ministry of Finance (BMF)) is GIZ's sole shareholder. The organization is structured into eight corporate units (Corporate Development; Corporate Communications; Legal Affairs and Insurance; Compliance and Integrity; Auditing; Evaluation; Corporate Security; Academy for International Cooperation (AIZ)) and ten departments (Commissioning Parties and Business Development; Sectoral Development; Sector and Global Programmes; Africa; Asia, Latin America, Caribbean; Europe, Mediterranean, Central Asia; International Services; Human Resources).