Non-Executive Directors: Moving beyond the ‘One-size-fits-all’ View 1

An earlier version of the paper was presented to the 5th International Conference on Corporate Governance and Direction held at Henley Management College, UK, 8-10th October 2002.

We are grateful to Richard Bednarek and his colleagues at Hay Group Consultants for inviting our contribution to their 2002 Survey of Views of Remuneration Committee Chairmen and allowing us access to, and use of, their sample responses.

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These roles have their origins in different theoretical perspectives for the role of the board — i.e. stewardship theory and resource dependence theory respectively.

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This is because a key aspect of conducting this role is sensitivity to and ability to change. In addition, as one long-experienced NED pointed out, if you need a job description for this role, then you are in the wrong job!

Interestingly the public sector, specifically the NHS, perhaps leads the field in terms of the induction and performance management of its non-executive director population. The NHS Appointments Commission has this year introduced an induction programme for NEDs and a performance management process for Chairmen and NEDs.