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The Seeking of the Non-Executive Directors (NEDs)
Finance & Accounting
Pages 5 (1255 words)
The seeking of the Non-executive directors (NEDs) Table of Contents Introduction 3 The role of the non-executive director 3 The key responsibilities of non-executive directors 5 Strategic Direction 6 Monitoring Performance 6 Communication 7 Risk 7 Conclusion 7 References 9 Introduction The subject of corporate governance is associated with the jobs and accountabilities of a business organization’s Board of Directors in handling the business and their associations with the organization’s shareholders as well as other stakeholder.
Consequently, this had resulted in endeavors to make the directors more liable for their strategies and actions. The inclusion of non-executive directors in the board of an organization has an imperative part to play in this context and will be the subject of concern in this study (Stewart, n.d., p.2). The non-executive directors (NEDs) perform multiple functions in an organization. In accordance to the Combined and the UK Codes of Corporate Governance together with the UK Stewardship Code, the NEDs seek to challenge the chairman and the executive directors in the board, offer expertise, knowledge and insight to the board, elevate principles of corporate governance, and guide the board on business strategy (Lewis, 2010, p. 5). The role of the non-executive director The latest financial disaster and the resulting bail-out of many financial organizations have impelled the discussion regarding the position and efficacy of non-executive directors (NEDs) in context of corporate governance. ...
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