The role of NEDs can be broadly classified into the following areas:
Strategic Guidance: NEDs help in shaping the long-term strategy of the company by challenging and contributing to the development of strategic plans. Performance Monitoring: They monitor the performance of the executive team, ensuring that goals and objectives are being met. Risk Management: NEDs play a crucial role in identifying and mitigating risks, ensuring the company maintains a robust risk management framework. Governance and Compliance: They ensure that the company adheres to legal and regulatory requirements, maintaining high standards of corporate governance. Stakeholder Interests: NEDs act as a liaison between the company and its stakeholders, ensuring that the interests of shareholders, employees, and other parties are considered.