Executive Director:
An executive director is a director who is involved in the management of the company. In a statutory sense, it refers to the position of a smaller *** that is responsible for the operation and management of the company without the establishment of a board of directors; There is no clear regulatory basis in the sense of a listed company. [1]
Executive directors and non-executive directors are relative, and the functions of executive directors should be the same as those of the board of directors of a general company, and they should be responsible to the shareholders' meeting.
Chief Executive Officer (CEO) is a senior job title, abbreviated as CEO, which is the highest administrative head in an enterprise group, chaebol or administrative unit, and is in charge of administrative affairs.
The CEO is fundamentally responsible for the operation of the businessIt is not only the chief executive but also the spokesperson of shareholders' rights。[1] The top person responsible for the operation of the entire organization and the responsibility for performance goals. The Executive Board of Directors sets strategies and decisions and is responsible for making decisions on important issues for the overall internal and external, short-term management and long-term development.
Non-Executive Directors:
Non-executive directors, also known as outside directors, are directors who do not have any other contractual relationship with the company other than being directors. In August 2001, the China Securities Regulatory Commission (CSRC) promulgated the Guiding Opinions on the Establishment of an Independent Director System in Listed Companies, which stipulates the meaning of independent directors, independence standards, qualifications, and procedures for the establishment of independent directors.
Non-executive directors play a role of supervision, inspection and balance over executive directors.
Independent Non-Executive Director:
As an Independent Non-Executive Director, your role will be to oversee management, participate in setting the direction of the Company's business and affairs, and provide positive and objective views on these and other issues facing the Board. In carrying out your duties, one of the main responsibilities is to ensure that the board considers the interests of all shareholders and not just the interests of one faction or group. There are exceptions in certain circumstances, such as in the case of acquisitions, spin-offs, other major transactions, buybacks or connected transactions, where one or more directors have conflicting roles in the matter which makes it inconvenient for them to exercise their responsibilities on the Board and requires the Board to form an independent panel to exercise their responsibilities on their behalf. In these cases, the independent panel is generally intended to protect shareholders who have only the interests of the shareholders and do not have a conflict of interest in the transaction.