Running a Company

The day-to-day management of a limited company is performed by its directors and secretary. In accordance with the company’s articles of association, a board of directors appoint certain officers to take on administrative and business tasks. These company officers are:

• A chairman, who chairs company board meetings;
• A managing director or chief executive, who carries on and is responsible for the day-to-day control of a company;
• A company secretary, who is usually accountable for dealing with formalities such as filing at Companies House and keeping company’s statutory records.

The exact duties of the company directors vary according to the company’s articles of association and business needs. Directors should always have written service contracts clearly stipulating their duties and powers.

Company directors exercise their executive power by voting at board meetings and by signing resolutions. To convene a board meeting, certain formal requirements must be satisfied. Among other things,

• A board meeting should be called on reasonable notice in writing, verbally or by the use of means of telecommunications.
• All resolutions are passed by a majority of votes cast and each director has one vote, unless otherwise stipulated by company’s articles of association.
• A board meeting must have the quorum of at least half of the company directors in order to be valid, unless otherwise stipulated by company’s articles of association.
• The minutes of a meeting must be taken and kept in the appropriate register.

Company directors have to make business and administrative decisions. In doing so, they are supposed to go through the following decision-making process:

Capital Business Links Ltd provides professional and personal services to support company directors in all aspects of their tasks and responsibilities. To find out more about our offer for company directors, please contact us on telephone number 0208 567 99 44 or at our e-mail address.