nominee (noun, nom-i-nee, \ ˌnɑːmɪˈniː \) director (noun, di-rec-tor, \ dəˈrektər \)
Definition: is an individual that operates as a non-executive member of the board of directors of a company, while representing another individual or organization such as a credit company or investor. Ordinarily, there are no shareholding requirements presented in front of a nominee director, but if the internal laws of a company demand a share qualification, the said individual has to acquire it. Certain jurisdictions also allow an entire company to be considered as a nominee director of a different company.
In a Sentence:
- Tray Irwin was appointed as a nominee director to represent McDonald’s at all the Burger Town meetings.
- There’s no reason for you to worry since we don’t have any special requirements for the position of a nominee director, you can just come to our board of directors meetings and start participating in the discussion.
- Even though Mr. Hellos was just a nominee director and he didn’t possess any executive powers, he tried to dominate each meeting he was present at.
Synonyms and related words: insolvent company, company director, straw man, nominee shareholder, shadow director
