Chief executive officers and nonexecutive directors: their relationships in small companies

This paper provides an analysis of the role of 'outside' or nonexecutive directors (NEDs) and their relationship with chief executive officers (CEOs) and entrepreneurs or 'insiders' in small growth companies. We discuss research results from a matched sample of forty-six interviews with a core sample of twenty-three companies with matched CEOs and NEDs. Findings are placed in the context of European small and medium-sized enterprises, where great attention has been given to the future development of long-term relationships such as those brought by outside directors in small companies.