non-executive directors

Business Owners Lack Confidence in Non-exec Directors

More than half of company owners lack confidence in their non-executive directors, research by private bank Coutts & Co has revealed. The survey of 141 entrepreneurs found that 56% were sceptical about the ability of a non-executive director (NED) to improve business performance, while a third (33%) admitted they had had a poor experience of using NEDs in the past. The survey also found that more than half felt that non-executive contracts should be limited and that individuals must not remain on the board if they ceased to add value. Andrew Haigh, managing partner for the entrepreneurs client group at Coutts, said NEDs were typically taken on to fill skill gaps and add an independent perspective to a business. “However, it is important that they are brought on board for the righ... »