“When you’re offered a position on a board, you sort of grab it,” the late Derek Bonham, a former chairman of Imperial Tobacco, candidly told Andrew and Nada Kakabadse in their book Leading the Board.

Who wouldn’t want to grab the chance to gain admission to the boardroom? For company executives, it is a sign that you have won the admiration, or at least the grudging respect, of your colleagues. It is not just about getting a bigger salary and a guaranteed parking space – although these are nice too. Being appointed a director is the highest professional accolade. It is called the top table for a reason.