<Dd> "(i) that what the directors did was so related to the affairs of the company that it can properly be said to have been done in the course of their management and in the utilisation of their opportunities and special knowledge as directors; and (ii) that what they did resulted in profit to themselves ." </Dd> <P> And accordingly, the directors were required to disgorge the profits that they made, and the shareholders received their windfall . </P> <P> The decision has been followed in several subsequent cases, and is now regarded as settled law . </P> <P> Directors cannot compete directly with the company without a conflict of interest arising . Similarly, they should not act as directors of competing companies, as their duties to each company would then conflict with each other . </P>

Large british companies generally have a chairman of the board