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Question
Explain the following term/concept:
Director
Solution
(1) The elected representatives of the shareholders are called Directors of the company. The shareholders vest in them all the powers of managing the affairs of the company. In the company management, the role of Directors is threefold. Via (a) as the agents of the company (b) as the trustees of the company and (c) as the managing partners.
(2) The directors occupy a key (important) position in the management of the company. They are responsible for decision making. Framing policies and plans. They exercise their powers and authorities collectively as a Board. They sometimes do not remain in the company’ office. So they ask for the information from the secretary, which helps them to make proper decisions.
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