The legal duties and responsibilities of a non-executive
director are no different in law from those of full time
executive directors.
As the NED is by definition only at the company or
organisation's premises for a part of each month, it is
essential that he or she is highly efficient and effective in
that time.
There is an excellent quarterly training course offered at
Cranfield, the Non-Executive
Directors Seminar.
You might also consider the Chartered Director qualification,
which involves a written examination, submission of a portfolio
of professional experience, and a formal interview with
experienced directors. Details are available from Jonathan
Trouncer at the Institute of Directors.
Due
diligence - protecting my reputation
The same level of due diligence used for executive
appointments should be applied to non-executive appointments,
particularly for those assignments found directly rather than
through a nationally respected consultancy.
Directors and Officers liability
insurance
There
are a number of providers offering policies for an individual who
has a number of appointments. It may be more convenient to have a
composite individual policy than be covered by several separate
company schemes, particularly as these policies are usually on a
claims made basis.
.