Different types of statutory director

Executive directors are employees as well as being statutory directors. They have day to day responsibility

for running the business and often are in charge of one area, like finance.

Non-executive directors attend board meetings and provide independent oversight of the companys

strategy, ethics and integrity. They do not run the business day to day and normally work only part time.

A managing director is sometimes appointed to lead implementation of the Boards strategy. Their legal

rights and duties are the same as other directors.

A person appointed to the Board to represent a particular party (eg an investor) is sometimes called a

nominee director. However, their legal rights and duties are the same as other directors.

A director may appoint an alternate director who can act on his behalf if he is temporarily absent, if the

companys rules (ie the Articles of Association) allow this.

A person who is not appointed to the Board, but whose directions are customarily followed by the Board,

might be a shadow director and have some of the same duties as other directors.