All public companies are required to have at least two directors and all private companies at least one. The directors are appointed (and confirmed by their consent on a signed CM27 form lodged with the Companies and Intellectual Properties Commission (CIPC) by the shareholders at a shareholders’ meeting. Until the directors are appointed, the incorporators are deemed to be the directors. The primary duty of a director is to always act in the best interests of company. Companies also often have “alternate” directors and “non-executive” directors – and there is always a managing director or CEO – but in terms of the Companies Act (71 of 2008), all appointed directors have the same duties and obligations. The ShareFriend Pro software gives the current directors of the company you are viewing under the “Current Company Comments” icon.

Disclaimer - All information and data contained within the PDSnet Glossary terms is for informational and educational purposes only. PDSnet makes no representations as to the accuracy, completeness, suitability, or validity, of any information, and shall not be liable for any errors, omissions, or any losses, injuries, or damages arising from its display or use. Information in the PDSnet glossary terms is based on the author’s opinion and experience and should not be considered professional financial investment advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Thoughts and opinions will also change from time to time as more information is accumulated. PDSnet reserves the right to delete any glossary term for any reason.« Back to Glossary Index