director

Director

See: Board of directors.

Directorship

A seat on the board of directors of a company or other organization. A directorship allows one to have a direct say in a company's policies, particularly regarding dividend payments, the hiring and firing of major executives, and so forth. One receives a directorship as the result of a shareholder vote. Generally speaking, directors are nominated on the basis of whom they intend to represent, whether that be management, a particular block of shareholders, or even the company's employees.

director

A member of a firm's board of directors. A director also may hold a management position within the firm. See also inside director, outside director.

director

an official of A JOINT-STOCK COMPANY elected by the SHAREHOLDERS at the company's ANNUAL GENERAL MEETING and charged with certain powers and responsibilities to run the company on behalf of the shareholders. Each company will have a number of directors who constitute the BOARD OF DIRECTORS and the directors will meet regularly to determine company policy. The board generally elects one of their number to act as chairman of the BOARD OF DIRECTORS and may also elect one of their number to serve as managing director with responsibility for the day to day management of the company. Some directors will be executive directors and will hold senior salaried management posts in the company; others may be non-executive directors who are not primarily employed by the company but may be bankers or executives employed by other companies, contributing their expertise at board meetings in return for directors' fees. See CORPORATE GOVERNANCE.