Time-limited Appointments

1. Some roles have fixed periods e.g. Chairman, Chief Executive Officer or Directors.


2. It is provided under company’s constitution/articles of association, service contract, legislation, CG codes, etc..


3. Examples are:

• Retirement age at 55 or 60,
• NED to serve for preferably 6 years max under UK Code of CG,
• Higgs Report which recommends annual reelection after 9 yrs.,
• Retirement by rotation after 3 years.
• Fixed period contract of service for ED of Public Listed Companies except in 1st year of contract.
• Company’s Acts require directors over 70 to seek reelection annually.
• 1st year must stand for reelection at AGM as per Company’s Acts and UK Code.



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