Glossary and Definitions
Consent to be Director (South Africa)
A Director of a corporation is a person who works for the corporation (in other words, an "officer" of the corporation), who helps guide and manage the corporation's affairs. A director has a fiduciary duty to the corporation (obligation to act in the best interests of the corporation) and help determine and implement corporate policy. A corporation usually has more than one director (even a small corporation usually has three or more), and the directors comprise the Board of Directors. As control of the corporation is usually divided between the Board of Directors and Shareholders, in most cases appointing or removing a director is done through Shareholder voting at a general meeting. Usually directors are appointed for a one-year term.