Non-Executive Director

A non-executive director (NED) is a member of a company's board of directors who does not hold an executive position within the company. NEDs are typically independent, experienced individuals who provide guidance and oversight to the company's executive team.

NEDs play an important role in ensuring that the company is managed in a responsible and ethical manner. They also help to ensure that the company is in compliance with all applicable laws and regulations. In addition, NEDs can provide valuable insights and advice to the executive team on strategic planning and other key business decisions.

The number of NEDs on a company's board varies depending on the size and complexity of the company. However, it is generally recommended that companies have at least three NEDs.

NEDs are typically appointed by the company's shareholders. They serve for a fixed term, which is typically one to three years. NEDs are typically paid a fee for their services, which is typically based on the size of the company.

NEDs have a number of important responsibilities, including:

* Overseeing the company's overall strategy and performance
* Providing guidance and advice to the executive team
* Ensuring that the company is managed in a responsible and ethical manner
* Monitoring the company's compliance with all applicable laws and regulations
* Approving the company's financial statements
* Appointing and evaluating the company's CEO and other senior executives

NEDs play an important role in ensuring that companies are managed in a responsible and ethical manner. They also help to ensure that companies are in compliance with all applicable laws and regulations. In addition, NEDs can provide valuable insights and advice to the executive team on strategic planning and other key business decisions.