Types of Directors
If the alternate director is also a full director of the company, he will have two votes at board meetings, his own and his vote as an alternate. They may be cast in different ways. Alternate directors are permitted by the new model articles for public companies, but not by the new model articles for private companies.
1 [Executive Director] | The Difference Between an Executive Director & a Chief Executive Officer; 2 [LLC] | Does an LLC Have to Have a President or CEO? 3 [Business Positions] | List of Business Positions; 4 [Difference] | The Difference Between Inc. & Ltd. & Co.
The CFO is the highest financial officer in a company. This position often works in conjunction with the Chief Executive Officer, or CEO, and reports directly to the owner of the company or the board of directors.
The chief operating officer (COO), also called the chief operations officer, is one of the highest-ranking executive positions in an organization, comprising part of the "C-Suite". The COO is responsible for the daily operation of the company, and routinely reports to the highest-ranking executive, usually the chief executive officer (CEO).
Any person who is not technically a director but according to whose directions and instructions (rather than expert or professional advice) other directors and/or employees are accustomed to act is legally deemed a de facto director.
The standard of care required from executive directors is much higher than that required from non-executive directors, but both types of directors are equally liable under tax laws. Also called inside director or internal director.
A non-executive director is a member of a company's board of directors who is not part of the executive team. A non-executive director typically does not engage in the day-to-day management of the organization, but is involved in policy making and planning exercises.
The board secretary may delegate this responsibility, perhaps to a paid staff member at the organization or to a volunteer, but the secretary is the one responsible if it doesn't get done. It makes sense, then, that anyone nominated for board secretary must be organized and good with details.
Definition of shadow director ... she is a de facto director and is held equally liable for the obligations of the firm with the other de facto and de jure directors.