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Director - Coggle Diagram
Director
Retirement of director
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Public company
At the AGM in every subsequent year, 1/3 of the directors for the time being or if their number is not 3 or x3, then the number nearest to 1/3, shall retire from office at the conclusion of the meeting.
The directors to be retired each year shall be the directors who have been the longest time in office since the last election of the directors, but as between persons who became directors on the same day and shall be determined by lot (unless they have agreed otherwise between themselves)
During the first AGM, all directors shall retire from office at the conclusion of the meeting
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The retiring director shall be deemed to have been re-elected, if he offers himself for re-election, unless :
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Type of Directors
Non-Executive Director
A director who does not hold any salaried appointment with the co and receives a relatively small director's fee as laid down in the articles/general meeting
Executive Director
A salaried director who is a full-time working delegated with managerial/executive powers by the board to carry out the day-to-day management of the company's business
Removal of director
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At a meeting, the company may by ordinary resolution remove the director before the expiration of the director's tenure of office
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If a director of a public company was appointed to represent the interests of any particular class of shareholders or debenture holders, the resolution to remove the director shall not take effect until the director's successor has been appointed.
A person appointed as director in place of a person dismissed shall be considered as if he or she had become director on the day on which the person in whose position he or she is named was the last to be named director.
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Definition (Sec 2)
Any person occupying the position of director of a corporation by whatever name called and includes a person in accordance with whose directions and instructions the majority of directors of a corporation are accustomed to act and an alternate or substitute director