What is a managing director? Which is the correct response?

Group of answer choices

The managing director is a salaried and executive director who runs the company on a day$-$to$-$day basis and has the same amount of power as any other director

The managing director is always appointed by the members of the company

The managing director must be appointed from the non$-$executive directors under good corporate governance principles

The managing director is the chief executive director in the company and has the greatest powers of any director