Chief Executive appointment by board ensures exclusion of members and confers managerial and fiduciary responsibilities under board supervision. A Producer Company must appoint a full time Chief Executive from non Members who serves as an ex officio director not subject to retirement by rotation; the Board sets qualifications, terms and conditions unless articles provide otherwise. The Chief Executive, accountable to the Board, is vested with substantial management powers and specific operational duties including day to day administration, financial custody and operations, signing authorised documents, maintaining accounts and audits, advising on legal and regulatory matters, making delegated appointments, and assisting in strategy and policy formulation.