Director Jobs

Director, in terms of section 1 of the Companies Act 71 of 2008, means a member of the board of a company or an alternate director of a business, and includes any individual holding such a position, regardless of the title used. Among other things, a director is in charge of the company's business operations, financial performance, investments, and new ventures.

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You can serve as a Director in one of two ways: either as an Executive Director, in which case you work for the company and have significant operational responsibilities, or as a Non-Executive Director, in which case you do not work for the company but serve on the Board of Directors, reviewing the company’s performance and voting on significant shareholder issues.

A directorship in a firm used to be seen as a perch for the ultra-wealthy and renowned. Membership on boards, however, has become a highly ormalized, regulated process in the wake of successive financial crises and the legislation that followed.

In December 2012, the Institute of Directors in Southern Africa (IoDSA) was recognised as a professional body by the South African Qualifications Authority (SAQA). So, the Chartered Director South Africa title has been added to the National Qualifications Framework.

The role of chartered director is not a qualification, but rather a designation given to those who complete the designation process. This process was started by the IoDSA to improve the quality and integrity of the directorship role in the country’s business and financial sector. There are four different steps. Once an applicant has successfully matched their experiences and qualifications to the competency framework, they will take an exam and a peer interview.  During the peer review if there is any problems with their first application it can be fixed and the process completed.

Directors must have expertise in areas such as corporate governance, corporate and other applicable legislation, financial and other reporting, and the industry itself. A director is supposed to use his/her knowledge and experience to the company's benefit. In practise, directors must be competent, have the knowledge and expertise to fill a board vacancy, be a person of integrity, and have the abilities and capacity to perform their fiduciary duties.

Often headhunters or executive search companies are requested to fill vacancies at these levels. Executive Placements is also the only job portal in South Africa that was specifically designed for Executive Level Positions.

Joining a board of directors is an excellent way to gain exposure to new industries and gain valuable experience. Director positions also usually pay excellently.

Negatives include the necessity to clarify your liability as a director and the time it may require from you to fulfill your obligations.  It can also affect your ability to do business with the company.

Is director a good career?

Yes. The position of director often brings with it a certain amount of prestige and visibility amongst one's contemporaries.

Are directors in demand?

 A directorship role is at the top of the pyramid. Often various roles become available but it is critical that a company does not make a hiring mistake when employing people at this level so the match has to be as close to perfect as possible.

How much does a director earn?

As perthe PwC study the fees paid to JSE and AltX non-executive directors the average salary was R1.89 million for chairpersons and R1.28 million for deputy chairpersons. The average was R1.06 million for a lead indpendant directors and R1.04 million for a non-executive directors. At a supercap the average for a chairperson is R12m and the average for a NED is 3.64m