Role of an Individual Director
Your role as an individual director is to participate in board meetings to enable the board to reach decisions and ensure that the company’s obligations are fulfilled. The directors are effectively the agents of the company, appointed by the shareholders to manage its day-to-day affairs. Can you call yourself a managing director? The title of director should only be used when dealing with a company. If you own a business as a sole trader, then you should call yourself the owner.
Directorship and Employment
Is a director always an employee? A directorship is an office, not necessarily an employment. If, however, the company enters into a service contract with the director under usual common law tests, then the director becomes an employee. Many company directors are in this position. Can you own a company but not be a director?
Job Duties of a Director
What are three job duties of a director?
- Develop and implement plans and objectives for the department in an effective and innovative fashion.
- Oversee and coordinate daily operations.
- Maintain compliance with external regulations and internal policies. Assess and report progress in meeting department objectives.
COO vs Managing Director
Which is higher COO or managing director? In many companies, the role of a COO is more likely to be carried out by a managing director due to the operations-based focus of the role. The two roles may coexist, with the COO having a higher level of oversight.