A company director is a member of a board of a company or an alternate director of a company.
At it's simplest level, directors manage the day-to-day activities, finances and are legally responsible for the business.
Below is a more detailed explanation of a company directors roles & responsibility.
Role of a company director
Company directors appoint and supervise management to ensure the smooth running of the company.
Although duties can be delegated to management, directors must monitor management’s performance. Directors hold overall responsibility over management.
Shareholders have the power to re-appoint directors or not to re-appoint them.
Duties of a company director
Company directors must:
Exercise with care and skill that would be expected of a person in that position
Not use corporate property info or opportunities for personal gain
Exercise independent judgement in decision making
Exercise unrestrained discretion
Exercise powers for their proper purpose for which they were conferred
Act only under available powers
Act solely in the interest of the company and in good faith
Prevent any conflict of interest
Company directors must not:
knowingly cause harm to the company or a subsidiary of the company
use their powers to gain an unfair advantage for himself or any person other to the company or a subsidiary of the company