Give your favourite UK NED the nod

September 14, 2009

FILM-OSCARS/Non-executive directors — particularly at certain British banks — are not exactly flavour of the month.

There has been widespread questioning of what precisely it is many non-execs actually do, other than take home a sometimes handsome reward for attending a scattering of board meetings.

The promoters of the annual NED (Non-Executive Directors) Awards 2009 — which are presumably the boardroom equivalent of the Oscars — put a positive spin on their role:

The appointment of a Non-Executive Director (NED) can highly influence the success of an organisation

And NEDs bring more than their name to a company, the organisers add:

Many have gone that extra mile to challenge business practices, adding value to company strategy, performance, human resources and risk management

There’s no doubt high-calibre non-execs are needed to ensure companies function properly.

So if you know a NED who you think deserves praise, now is your chance to make sure they get their name in lights — you don’t need to be a shareholder to propose someone. As the organisers point out:

Nominations have come not just from senior management but also academics, accountants, analysts, charitable trust managers, fund managers, journalists, lawyers, executive board members, other non-executives and previous winners.

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