Information to assist your study of Management Theories and Principles more interesting
Monday, August 8, 2011
Ways in which company directors leave a board
1. Death
2. Resignation
Directors can leave the board if they resign by notice in writing.
3. Failure to seek re-election
When they are required by the retirement by rotation provision in company constitutions to seek re-election, but they decide not to offer themselves for re-election.
4. Voted out
• Directors being nominated for re-election at an AGM, but members voted against their re-election.
• Directors can also be removed from office by ordinary resolution at an AGM of which special notice has been given to the company.
5. Disqualification
• Disqualified by legislation or court
• Become bankrupt
• Enter arrangement with creditors
• Become unsound mind.
• Commission of serious offence in connection with management of company
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