While the Corporations Act 2001 (Cth) draws no
distinction between executive and non-executive directors,
commercial practice clearly delineates these roles by referring to
executives as management and non-executives as non-employee
directors, often with industry expertise or absolute independence.
Nevertheless, the same legislative duties apply to all directors
regardless of whether they are executive or
non-executive.
Introduction
In the final report of the Banking and Financial Services Royal
Commission, Commissioner Hayne noted three chief benefits of
including non-executive directors on ASIC's board, being:
- enhancing the internal oversight function of the board of
directors;
