ABSTRACT
Under s154 of the Companies Act 2006 (CA 2006) every private company has at least one director and public company has two director. Every company keeps a register of directors where relevant, company secretary at its registered office and notifies the Registrar of Companies of any changes within 14 days. The UK Corporate Governance Code (2012) requires that: There is a head in every company by an effective board of directors which is collectively responsible for the long-term success of the company. An executive director has a management or executive function within the company, as the Finance Director. They normally lead as full-time employees with a contract of employment. Non-executive directors (NEDs) are appointed to the boards of larger companies. The managing director (MD) is also known as the chief executive officer (CEO). They are responsible for the day-to-day management of the company but their exact role depends on the articles of association and their contract of employment.
