May 5, 2021 Omaplex 0 Comments

  1. Executive Directors

They are full timed or salaried Directors who are appointed to take charge of day-to-day running of company affairs.  They occupy dual status as alter ego as well as an employee of the company and thus has contract of service

As an alter ego he sits at Board meetings formulating policy directions for the company, and as an employee, he is in charge of implementation of the policies of the company.

  • Managing Directors/CEO
  • He is usually either appointed from among the Directors or from the employees of the company to oversee the management of the day-to-day business of the company.
  • Once appointed, he is regarded as an employee of the company.
  • Dual position as an employee and alter ego-LEE V.LEE FARMING CO
  • Alternate Director
  • This is the Director who is appointed to take the position of another Director in the event of absence. 
  • Life Director

Section 255 CAMA: This is a person appointed a director for life as a director of the company, which means that he is not subject to the rotation of directors but he is removable under S. 262 of CAMA or where he is disqualified or vacates the office

  • Nominee or Representative Director
  • Shadow Director 

This is a person who is not expressly made a director of a company but in accordance with whose directions the real directors of the company are accustomed to act. S. 245 of CAMA. One is considered a shadow director for the limited purposes as provided in Ss. 253, 275 and 281 CAMA. It arises when considering the above sections only.  NOTE- nobody appoints him

An Exception to the above rule is professionals engaged by the company to advise it.

  • Chairman

He presides over the Board and General meetings of the company and he is also a director.

  • Non-Executive Directors

He is duly appointed and carries out affairs of the company. Not involved in the day-to-day management and he is not an employee. These are part-time directors who are not entitled to remuneration but only reimbursement for their out of pocket expenses in carrying out the company affairs EXCEPT as provided in the ARTICLES OF ASSOCIATION

  • First Directors

S. 247 CAMA: Subject to section 246 of this Act, the number of directors and the names of the first directors shall be determined in writing by the subscribers of the memorandum of association or a majority of them or the directors may be named in the articles.

Types of Directors of a Company was last modified: May 5th, 2021 by Omaplex