COMPANY DIRECTORS
Sra,—Sir Richard Powell might well be reminded of the gramophone record by Paddy Roberts which contains the words 'Just grab a handful and damn the finesse.' His letter does well to elucidate two of the most latent irregularities that have long been the fortune of directors.
One is that a seat in the boardroom seeks to mini- mise the duty from extending beyond what Sir Richard calls advice and guidance. The other is that a multitude of advice and guidance directorships are unlikely to be so arduous as to preclude the accept- ance of others, to such extent that the more you are known to have, the less the shareholders of each individual company are expected to receive of your services.
Although the Institute of Directors as a body might owe much to the companies about them, it doubtless appreciates that none of them would exist but for the shareholders who give the use of their capital.
Oakwood, St Michael's, Tenterden, Kent
JOHN SCH UTE
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