High interest rates, war in the Middle East, tensions over Taiwan and the small matter of a UK general election — boards have had to cope with a daunting range of macro challenges.

The Sunday Times 2025 Non-Executive Director Awards, organised by the investment bank Peel Hunt, seek to recognise the unique contributions made by Neds. Nominations are now open.

Steven Fine, chief executive of Peel Hunt, remarked that in turbulent conditions, Neds came to the fore, “helping, guiding, nurturing and supporting the execs. This is the time when a good board stands on its own several feet”, he said.

“We’ve had half the world’s democracies having elections this year, we’ve got the US election coming up, we’ve got expectation management around the UK budget in October,” he said. “Boards have got to be attuned to politics in a way they rarely have before.”

Fine said the UK had “the opportunity to reassert itself” as a global investment destination, given the change of government after several years of upheaval under the Conservatives. But he noted “the distinct lack of activity in the equity capital markets, which is a concern due to de-equitisation — some 20 of the FTSE 350 will have gone private this year alone”.

“For public companies, boards have had to be far more focused on defence strategies, and far more aware of what their shareholders are thinking,” he added.

Ruth Cairnie, chair of the judges, said:

“Having really high-quality Neds who can bring lots of different skills and experience to bear, and ask the right questions to test and probe the decisions a board is taking, is absolutely essential.”

Nominations are open in seven award categories: FTSE 100 chair; FTSE 100 Ned; FTSE All-Share; FTSE Aim; private/private equity-backed; not-for-profit/public service organisation; and the Dame Helen Alexander Ned to Watch. The judges will also make a lifetime achievement award.

Nominations close on November 17 and a shortlist will be published in February. Enter at nedawards.co.uk.

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