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of <h1>Full-time Chief Executive for Producer Companies: non-member ex officio director with broad management powers u/s 581W</h1> Every Producer Company must appoint a full-time Chief Executive, who cannot be a member, and who serves as an ex officio director not liable to retirement by rotation. The Board determines the Chief Executive's qualifications, experience, service conditions, and the substantial management powers entrusted to this role. Statutory functions include day-to-day administration, operation and authorisation of bank accounts, safeguarding assets, signing authorised documents, maintaining books of account, preparing and presenting audited financial statements, providing members with operational information, making staff appointments as delegated, assisting in strategic planning, advising on legal and regulatory issues, and exercising ordinary course business powers, all under the Board's overall supervision and control.
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