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Discover The Role Of A Managing Director

A Managing Director, or Chief Executive, creates plans and policies that help a company achieve its objectives. Their duties include developing business strategies, advising the board of Directors and implementing business plans to accomplish organisational goals.

Managing Director Duties And Responsibilities

A Managing Director is responsible for the overall performance of a company’s business. Their main duties include:

  • Developing and implementing the company’s business strategies
  • Creating, executing and monitoring the performance of comprehensive business plans
  • Establishing internal company policies, procedures and legal protocols
  • Overseeing the investments, business ventures and financial stability of the company
  • Overseeing employment, professional development and employee performance activities
  • Establishing long-lasting relationships with shareholders, partners, local authorities and regulators
  • Creating a company culture and monitoring its adoption
  • Representing the company at public events and attending conferences

Managing Director Skills And Qualifications

A successful Managing Director candidate will have various prerequisite skills and qualifications needed to perform duties effectively. These include: 

  • Proven record of success in a senior management role
  • In-depth knowledge of the company’s industry and ability to identify and attract talented employees
  • Extensive knowledge of financial and business management techniques
  • Commercial awareness and deep understanding of the factors that influence the company’s business
  • Ability to balance conflicting interests
  • Strong qualitative and quantitative analytical skills
  • Proficiency in developing and implementing strategic and business plans
  • Ability to perform in high-pressure situations

Managing Director Experience Requirements

A background in business management, strategic planning, budgeting and human resources management is vital for Managing Directors. Previous experience in marketing, sales, product development and policy formulation is also essential for Managing Director roles. Some organisations prefer candidates with extensive senior-level managerial experience in their industry. Most employers require Managing Director candidates to have at least 10 years of combined industry and managerial experience. Some companies may consider people with less than 10 years of experience if the candidate’s educational qualifications and professional achievements meet the requirements of their business and position.

Example from Indeed.com

Managing Director Salary Expectations 

According to Indeed Salaries, the average salary for Managing Director in the UK is £84,579 per annum (as of March 2023). The actual pay may depend on the employer, the location, industry, level of experience, education and the exact job duties and responsibilities. 

Whether you are seeking a new role as an Executive Director, or looking to add to your team, let Connect Appointments help you – discover what we have to offer here or email info@connectappointments.co.uk