Directors should be subject to re-election by the shareholders at regular intervals, not exceeding three years.
At least 50% of the board must be comprised of non-executive directors.
They are re-elected by the shareholders, not the chairman. They do not have to be re-appointed annually (unless a FTSE 350 company in the UK) (FRC UK Corporate Governance Code: s. B.7.1).
There should be an appropriate balance of executives and NEDs to ensure that the board makes the correct objective decisions. At least half of the board should be comprised of NEDs. (FRC UK Corporate Governance Code: s. B.1.2)
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