Will you be a statutory director?
If you are approached for the position of director, it is very important that your future (legal) position is clear. First of all, it is important to distinguish between a statutory director or a position where you only hold the title of director (also called titular director).
As a statutory director, you occupy a special position. A position that differs greatly from the 'ordinary' employee or the managing director. In retrospect, it often turns out that many directors have had insufficient insight into the consequences that this position can entail and that they have insufficiently protected themselves against this.
We regularly receive questions about the protection against dismissal of statutory directors. Is there a right to severance pay if the shareholder decides that the director must leave? In addition, the personal liability of the director is an important aspect of the directorship that should not be underestimated.
If you are about to become a statutory director, or are in danger of losing this position, contact our specialists. We can inform you about your position, answer questions and advise you on how to protect your position during a meeting.