UK Accounting Glossary
A senior-level management position.
Directors are elected by the shareholders. They manage or direct the affairs of a corporation. Typically, the directors make only major business decisions, major policy changes and monitor the activities of the officers. They are the people who primarily manage the corporation.
A director is one of a group of individuals elected by a company’s shareholders to represent their interests and provide guidance and advice to the corporate CEO. The role of the director (as part of a board of directors) is to select and evaluate the CEO, review and establish corporate strategy, make decisions regarding dividends and other shareholder issues and oversee regulatory compliance. A director can be an inside director employed by or affiliated with the company or an independent director with no prior affiliation. Generally, a director serves a two- or three-year term after which he/she must be re-elected by shareholders. A director is expected to attend quarterly board meetings and to serve on one or more board committees.
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This glossary post was last updated: 23rd December 2018.