Employ a director

Discussion in 'Employment & HR' started by Ali123, May 6, 2021.

  1. Ali123

    Ali123 UKBF Newcomer

    127 0
    Hi.

    Hope someone can help.

    I am process starting new ltd company and looking to employ someone that can lead the company with the right qualifcations and experience. The employee will be a director with no shares. Myself and others will be shareholders and myself with majority share. Could the employee while being a director albeit with no shares potentially hijack the company. how can i take steps to protect it?

    Thanks.

    Ali
     
    Posted: May 6, 2021 By: Ali123 Member since: Mar 3, 2011
    #1
  2. Mr D

    Mr D UKBF Legend

    28,576 3,551
    Well they would run the company day to day. Not sure what you mean by hijack - they cannot sell the company. They do however make financial decisions.
     
    Posted: May 6, 2021 By: Mr D Member since: Feb 12, 2017
    #2
  3. Shaun_Pearce

    Shaun_Pearce UKBF Ace

    978 113
    Did you find the answer to your question?
     
    Posted: Jun 1, 2021 By: Shaun_Pearce Member since: Jul 22, 2008
    #3
  4. Ozzy

    Ozzy Founder of UKBF UKBF Staff
    Verified Business ✔️

    4,316 771
    The thing you might be looking for would be a Directors Service Agreement which would an extension of their employment contract. Have a solicitor (or good HR consultant) pull one together for you.
     
    Posted: Jun 2, 2021 By: Ozzy Member since: Feb 9, 2003
    #4