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There are several different types of company directors. It doesn't matter what position they hold, their responsibilities remain the same.
- Types of Director in Practical Terms
- Executive Directors
- Non-Executive Directors
- Chair
- Legal Definitions of Directors and Why This Matters to You
When a company’s set up, the first shareholders decide who the directors will be, and what they’ll do. After that, either the shareholders or the directors may have the right to appoint directors. Directors don’t have to be full-time employees, and they may not even be company employees at all. Sometimes, directors have particular areas of expertis...
An executive director is a person responsible for the day-to-day management of the company as well as its strategy. Executive directors usually make decisions acting as a board. Executive directors are normally employees as well as directors. This means that in addition to their directors’ duties in law, they’ll have additional duties to the compan...
Non-executive directors have the same legal duties towards the company as executive directors, but because they generally don’t get involved in operations, they have more of an oversight role. Shareholders often choose to appoint non-executive directors to keep an eye on how the directors are performing, and to give comfort to the outside world (an...
The chairman or chairwoman of the board is the person who leads the board of directors, sets the agenda, makes sure that the directors are given sufficient information to make informed decisions, and oversees the decision-making procedure. During meetings, their job is to ensure there’s a proper debate and that all voices are heard. Under the Artic...
Statutory directors
According to the Companies Act 2006, a statutory director includes any person occupying the position of director, even if they are not called a director in their job title. Statutory directors are people who’ve been formally appointed by a company (de jure), or who are acting as directors in actual fact (de facto), or in accordance with a company’s Articles. When you operate a company, you have to keep a register of the people that are currently appointed as directors. Their details are kept...
De jure directors
A ‘de jure’ director is a person that is legally entitled to be a director because they’ve been formally appointed in law as a director or in accordance with the articles of association of the company. A statutory directoris therefore a de jure director. A de jure director is also likely to be registered with the registrar of companies at Companies House. A de jure director can be validly appointed to a company in a variety of ways: 1. if they have been appointed by the members of the company...
De facto directors
In contrast to a de jure director, a de facto director hasn’t been properly or legally appointed as a director but does, in reality, do things that only directors are normally allowed to do like: 1. signing contracts 2. telling third parties they’re a director, or making themselves out to be a director 3. taking decisions on behalf of the company Whether someone is acting as a de facto director will depend on what they do and how, but generally they need to be seen, in an objective way, to be...
Aside from daily administrative duties in the firm, non-executive directors have the same duties and obligations as the other directors and are appointed to sit on Board committees. Non-executive directors can be independent directors or nominee directors.
A person from a group of managers who leads or supervises a particular area of a company, [1] which might be considered to be the American English meaning of the word. A person holding a "directorship" in a legal sense, who has specific legal duties and responsibilities for management of the company which they have been appointed to the board of.
Singapore companies name their directors by any one or more of the following: Executive directors – an employee of the company who holds a full-time position that may involve the management of the day-to-day operations of the company.
A board of directors is responsible for protecting shareholders’ interests, establishing management policies, overseeing the governance of the corporation or organization, and making critical business decisions.
A director is an officer of the company. Many directors work under a contract for services and are therefore paid a fee. In these circumstances, they would be regarded as self-employed. However, it's possible for them to work for you under a contract of service, making them an employee.
