Sobering truths of being a company director
It's hard enough to be a director of a company in normal times. But, during this economic crisis, it's a real test of any leader's determination. Stephen Barnes, a business recovery specialist, examines what it takes for a leader to succeed and what can quickly bring you down. It's clear that many senior business executives want to be able to serve on the non-executive boards at the end of their careers. They can use their skills and experience to make an impact on the board. Others can become directors of companies by default as owners or passive directors, such as a spouse. Although it sounds glamorous, a directorship is hard work, dedication, responsibility, and accountability. Once you have a good understanding of what a directorship is, you can make an individual decision based on your situation to decide if it's worth it. First, consider the duties of company directors. Directorship comes with many responsibilities. ASIC lists the following. General duties of