However, there are ways of achieving this. Executives who become statutory directors must have two employment contracts: one for, say, 80–90 per cent of their time as an executive under a normal contract of employment; and one, a contract for services as a director, for the other 10–20 per cent of their time, including the development of the necessary care, skills and diligence needed to deliver their independence of thought, primary loyalty and fiduciary duty. Some boards have achieved this through rigorous induction, appraisal and development processes. The beauty of such an approach is that
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