non-executive director

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A director of a company who is not involved in the day-to-day management of the business but who is appointed to bring independent judgment on issues of strategy, performance, resources, and standards of conduct. In the UK the Combined Code on Corporate Governance requires public listed companies to appoint non-executive directors or to explain why they have not done so. Apart from their watchdog role, such directors are often employed for their prestige, experience, contacts, or specialist knowledge.

Subjects: Accounting.

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