What are the types of Directors according to Companies Act, 2013?

Types of Directors under Companies Act, 2013 are: Executive Director/ Whole time Director/Managing Director Executive directors are usually Wholetime Directors in the employment of the company and paid a salary, so are protected by employment law. They undertake both strategic and operational responsibilities for the Company. A Managing Director (who is also a Wholetime Director) is entrusted with substantial powers of management of the affairs of the Company. Non-Executive Director Non-executive directors are not in the employment of the company. They are the members of the Board, who normally do not take part in the day-to-day implementation of the company policy. They are generally appointed to provide the company with the benefits of professional expertise and outside perspective to the board. They may be Independent or non-Independent Directors. Woman Director The Companies Act, 2013 in India recognized the importance of gender diversity and provides for mandatory appointment of at least one-woman director on the Board of listed and certain other specified class of companies. SEBI has mandated that the top 1000 listed companies must have atleast one Independent Woman Director. Resident Director Section 149 (3) of the Companies Act, 2013 provides that every company shall have at least one director who stays in India for a total period of not less than 182 during the financial year. In case of a newly incorporated company the requirement under this sub-section shall apply proportionately at the end of the financial year in which it is incorporated. Independent Director Independent Directors play a pivotal role in maintaining a transparent working environment in the corporate regime. Independent Directors constitute such category of Directors who are expected to have impartial and objective judgment for the proper functioning of the company. "Independent director" means an independent director referred to in sub-section (6) of section 149. Nominee Director It means a director nominated by any financial institution in pursuance of the provisions of any law for the time being in force, or of any agreement, or appointed by any Government or any other person to represent its interests. They are not considered as Independent Directors. Small Shareholder Director "Small shareholder" means a shareholder holding shares of nominal value of not more than twenty thousand rupees or such other sum as may be prescribed. A listed company, may upon notice of not less than 1000 or one-tenth of the total number of small shareholders, whichever is lower, have a Small Shareholders' Director elected by the small shareholders. A listed company may also, suo moto, opt to have a Director representing small shareholders.