Importance of independent, non-executive directors

The importance of independent, non-executive directors is highlighted:

"...1. Brings a depth of experience to the board with some knowledge of the industry involved

2. Is a team player who leaves their ego at the door

3. Is an industry advisor, able to challenge as well as support

4. Is articulate in communication and a good listener

5. Is committed and prepared

6. Has a sharp mind and good judgment

7. Is visionary, creative and passionate about business

8. Can build strong relationships and act as ambassador

9. Is self-confident without being dogmatic

10. Is prepared to enrich their contributions through feedback..."

Don Argus as quoted by Patrick Durkin, 2010

There is a point of view that non-executives directors should also be shareholders, ie have "some skin in the game". Yet the Australian Council of Superannuation Investors found that nearly 11% of ASX non-executive directors are in no shares in the company they oversee (Patrick Durkin 2016d)


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