Paying peanuts to Directors

Peanut Watch
Originally uploaded by governancefocus.

Parkwood Holdings, a UK company is looking for an additional Non-Executive Director.

They say that they will pay £20,000 per annum and expect approximately 8 meetings a year and in total 15 to 20 days per annum may be called for.

In these days of Non-Execs needing to be independant, responsible, prepared and on top of things at the Companies they Direct at, they need to do much more work than that required by the number of meetings suggested.

Perhaps Parkwood is just going through the motions and wants to say that they have a balance between Executive and Non-Executive Directors. If this is the case and if they do not want independant Non-Executive Directors then this ahouls achieve it.

At the compensation suggested the Non-Executive Director will need to be on numerous Boards, far too many to have the time to do a good job at any of them.

What is that saying, when you pay peanuts, you get..........with all due respect!

Related links:
Parkwood Board of Directors
My response to "Just say no..."
Just say no to Public Boards