To all those reading this I am David Gibbs; I am a Lecturer in Company and Commercial Law at the University of Hertfordshire.

I created this blog as a general out-let of ideas for my research, as well as keeping those interested up-to-date on my research and general interests.

I completed my PhD thesis at the University of East Anglia in 2014. The thesis was recommended for the award of PhD with no corrections. My external examiner was Prof. Simon Deakin (Cambridge) and internal examiner was Prof. Morten Hviid.
My PhD research centred on directors' duties and company law. The thesis was titled 'Non-Executive Self-Interest: Fiduciary Duties and Corporate Governance'. It was a doctrinal and empirical study on whether self-interest was suitably controlled amongst non-executive directors.

My supervisors were Prof. Mathias Siems, Prof. Duncan Sheehan, Dr. Sara Connolly and Dr. Rob Heywood

All opinions of any existing or future blogpost are my own. They do not necessarily represent the views of any of my associated institutions.
ORCID 0000-0002-6596-8536

Wednesday, 14 December 2011

Facts and figures about Directors

Directors. Who are they? What do they do? The decision from Mond v Bowles which I blogged about briefly here states that there is no definition of a non-executive in the Companies Act 2006.

Well, for one that is a bit of a presumption to make without really discussing the issue properly. For one, I can clearly see good arguments for and against non-executives being included under the definition in section 250 of the Companies Act. I hope to blog about this point in more detail at a later date.

For now, I have begun to run some analyses of directors who served on FTSE 100 boards between 2006 and 2010.

Below are some figures of executive and non-executive directors multiple directorships and remuneration in 2006 and 2010 from 30 FTSE 100 companies. Please note the following: These figures only represent the directors who served for the full year and does not yet account for those joining or leaving the board during the year. Also bear in mind the data was collected using my definition of a multiple directorship and remuneration. For 2006 one firm did not have any executive director serve for the full year. The data does also not account for the actual position held by the director as of yet for multiple directorships. Finally, the data is collected at company level. 

Number of directors
Mean Remuneration
Standard Error
Mean Multiple Directorships
Standard Error

Interestingly you will observe the increase of almost £250,000 paid to non-executives with less non-executives actually serving for the full year. The standard errors for remuneration all seem to be increasing which may suggest larger firms i.e. banks are increasing pay at a faster rate than smaller FTSE 100 companies.

Multiple directorships on the other hand do not seem to be greatly affected from these descriptive statistics by remuneration. Although, non-executive multiple directorships do seem to be declining after 2008, which I have reported elsewhere on my blog in regards to banks, after a steady rise from 2006-2008.

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