The Board of directors plays a crucial role in any company. If you own a private company, it is important to understand the role played by each director. After that, For the company to be functional and in harmony, the board of directors should work in peace. Also, they need to be aware of their roles and responsibilities. With this being said, let’s learn more about the different types of directors in a private limited company. Related Post: Top 10 Essential Roles of a Startup CEO 1- Executive Director The most commonly known kind would be the “Executive Directors”. These are full-time professionals, who work to build and manage the company.
The executive director will give
reports to the stakeholders When anything goes wrong (or well), the executive directors are fully responsible. 2- Non-Executive Directors Unlike the executive Kazakhstan Phone Number List board of directors, the non-executive ones are not involved in daily activities. But, they play an integral role After that, in planning activities. Most of the time, organizations need a non-executive board of directors for building policies. These professionals are expected to challenge the active executive directors. They need to come up with plans and policies that would be in the best interest of the business. Also Read: Top three new business.
Ideas for 2020 3- Managing Directors
Managing Directors Board of directors Another common member of the board of directors would be the “Managing Directors”. These professionals have substantial Fax List power to make decisions. They have the authority to manage other members of the company. Any company with a share capital needs a managing director. 4- Independent Directors As suggested by its name, these members are not directly related to the company. They gain importance for their assets and knowledge. Many a time, you will come across independent directors with decades of experience.