Managing director: Definition of “ Managing Director

Definition of “ Managing Director ” According to the definition given in Section 2 (26) of the Companies Act, 1956:- " Managing Director " means a director who, by virtue of an agreement with the company or of a resolution passed by the company in general meeting or by its Board of directors or, by virtue of its memorandum or articles of association, is entrusted with substantial powers of management which would not otherwise be exercisable by him, and includes a director occupying the ... A person, who is proposed to be appointed as a managing director or whole-time director , can’t be appointed unless he is already a director in the company. So, holding of office of director is a prerequisite for holding of office of managing or whole-time director . A managing director is a high-level executive responsible for leading and overseeing the overall operations and business strategy of an organization. Managing directors wield significant decision-making authority, serving as the bridge between the company’s board of directors, shareholders, and the executive team. A company’s managing director is responsible for the growth, innovation and development of the company’s strategies and business.