Types of Director in a Company
Managing Director is a Director, who by virtue of Articles of Association of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of managed of affairs of the company.Know More IMPORTANT
Executive Director is a Director, who is in full-time employment of the company. Hence, executive directors are deeply involved with the management of the company and managing affairs of the company.
Ordinary Director means a simple Director who attends the Board Meetings of a company and participates in the matters put before the Board of Directors. These Directors are neither whole-time Directors or Managing Directors.
Additional Director is someone appointed by the Board of Directors between two annual general meetings subject to the provisions of the Articles of Association of a company. Additional Directors can hold office only upto the date of next annual general meeting of the Company.
Alternate Director is someone appointed by the Board of Directors in a general meeting to act for a Director called the original director during his/her absence for a period of not less than three months. Generally, alternate Director are appointed for a person who is a Non-Resident Indian or Foreign Collaborators of a company.