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Natalie Elms, Senior Lecturer, School of Accountancy, Queensland University of Technology

Company directors can sit on boards for decades. Are term limits the answer?

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Steering a large company successfully is no mean feat. As companies grow more complex in an increasingly turbulent business environment – so, too, do the responsibilities of their board members.

While they aren’t involved in day-to-day operations, non-executive directors hold the highest decision-making authority within a company. Collectively, the board is responsible for a company’s strategy, compliance and asking tough questions of its management team.

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