The 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.