How do you provide oversight while not being in a business full time?
This is a constant challenge many Non-Executive Directors (NEDs) face in role. NEDs are equally as accountable as Executives under the Companies Act 2006 so it can be difficult to know how to draw the line. Even more so for those where it is their first NED role, removing their day to day Executive hat and helicoptering to see the big picture while being aware of the nitty gritty can be quite a challenge.
It is, therefore, important for all NEDs to ensure that they provide objectivity rather than run the day to day business. The role of the NED is an extremely effective tool for ensuring good Board advisory decisions.