For this new-found role and responsibility, they are required to be:
These new responsibilities and this new prestige, they also have greater responsibilities and, as a consequence, greater accountability.
As a result, they are required to spend far more time and resources to do their job better.
Consequently, some basic commonly agreed terms and conditions and parameters for Non-Executive Directors would be welcome, including:
While these are only general parameters, and not necessarily comprehensive or complete, they are a good beginning to establish a group of professional Non-Executive Directors, which will be independent and have the time to execute their functions professionally and comprehensively.
By Onésimo Alvarez-Moro