Sample – role of the ned – private company board

An independent Non-Executive Director/Chair can bring considerable benefit to a privately owned business by:

 

  • Bringing an experienced external perspective to the business and consequently providing support to the owner/ managing director.
  • Acting as mentor and being available for confidential discussions.
  • Removing some of the internal stress within a family business and improving relationships
  • Helping to boost morale.
  • Performance monitoring of management, thus ensuring self-discipline of management and lifting standards and results.
  • Networking value.
  • Bringing knowledge of corporate law.
  • Helping to develop broad business strategy and objectives.
  • Providing knowledge and expertise in a range of industries and the economy in general.
  • Bringing required functional experience plus profile and wisdom.
  • Helping to raise standards of corporate governance, ethics and culture.
  • Assisting in developing, monitoring and reviewing the business plan.
  • Providing vision where necessary.
  • Presenting highly regarded boardroom profile to staff, clients, financiers and institutions.
  • Assisting in training.

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