What is a Non-Executive Director?
A Non-Executive Director (NED) is for many companies, a fast-track to commercial insight, clever connections and strategic analysis. For large companies, the NED role involves corporate governance, executive monitoring and strategic support. For smaller companies, the Non-Executive Director role is more involved.
Some companies may be too small to employ or afford a full time Executive Director and therefore the appointment of a Non Executive Director can broaden and supplement the board’s experience and skill set in a fairly cost effective way. Startups also benefit from the objective challenge and strategic advice that a Non-Executive Director brings. For many companies seeking funding, regardless of size, a condition set by many lenders or external investors is to appoint a Non-Executive Director.
Ideally, a non-executive director (NED, Non Exec or NXD) is a board member who is not part of an executive management team, and is not an employee or affiliated with the company in any other way. However, they provide key, independent support in the areas of strategy, risk, performance and people to client companies. Venture Capitalists often require a “safe pair of hands” that will give them the comfort that the business in which they have invested is performing according to the business plan and that the management’s strategy is working. There are occasions when there is doubt about the accuracy of the results, the ability of the management, or that the promised results and cash flow will be delivered.
What is an EFM Non-Executive Director?
Our Non Executive Directors are not just ‘clever business men’. They offer unique skills, reputation and expertise within the industry as a means of helping you realize new business opportunities while managing any conflicts of interest that may arise. They realise that their position is a challenging one which requires specialist knowledge, confidence, analytical skills and external viewpoint in order to assist the company’s management.
They are committed to providing objective criticism and advice to help you effectively run your business. They bring to the business impartiality, extensive business knowledge and experience as well as personal qualities to push your business forward.
Take advantage of the experiences and expertise of some of our most senior team members who have been part of some of the most inspiring success stories on a part time basis by requesting this service now.
Our Non-Executive Director Services include:
- Challenging existing or proposed business strategies
- Provision of long term strategic advice & direction
- Business coaching and innovative thinking
- Introductions to key contacts within network
- Key sounding board to key management and stakeholders
- Peace of mind for investors
- Specific market insight