Source of article: Business Times

Writer credits: Uma Devi

An invitation to be a member of the board of directors of a public listed company is a honour. There are however statutory and fiduciary responsibilities that are attached to the position. An independent director is jointly and severally responsible together with all other directors for any wrongdoing or legal breach by the company. Not being a full-time or executive director is not a defence if you are found to have been negligent, or when it is established that you have breached your fiduciary / statutory duties. Before agreeing to be a member of the Board of a listed company, it is important that one should be fully aware of the listing rules, the extent of your roles and responsibilities to act in and what is expected of you to safeguard the best interests of the company and its shareholders.

The roles, responsibilities and challenges of a director

My original LinkedIn post is here.