Key decisions for the development of companies are taken by statutory bodies. The scope and manner of their operation is affected by statutory regulations and the so-called codes of good practices. The aim of this study is to identify basic regulations relating to statutory bodies and to analyse both the similarities and differences in the legal framework of establishing statutory bodies and their operation in public companies listed on stock exchanges in Poland and selected Baltic States, that is Lithuania, Latvia and Estonia. A comparative law analysis is applied in this research. I analyse the normative material, that is, basic acts that regulate legal issues that concern the appointment and operation of statutory bodies. This investigation shows that the model of corporate governance adopted in a given country has a great impact on the operation of various bodies. Regulations on the number of members of statutory bodies, and the duration of the term of office for which a given member of a statutory body is appointed, are an essential aspect that determines the functioning of members of statutory bodies. The countries analysed differ in this context because respective legislators do not always specify the minimum or maximum number of members of statutory bodies or the time of their term of office in the law analysed. These differences in regulations, however, aren't pronounced, which leads to a conclusion that it isn't than legal issues that affect the observed changes in the rotation of statutory bodies in Poland and Baltic states.