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.