1. In my opinion a Nominee Director can be appointed as Managing Director of the Company.
2. Normally, a Managing Director is not liable to retire by rotation as well as Nominee Director is also a non-rotational Director
3.Both the Directors are counted for determining the number of Directors
4. Rotational Directors means the Directors of the Company who are liable to retire by rotation at the AGM of the Company and Non-Rotational Directors means the Directors who are not Rotational Directors.
As per section 255 of the Companies Act, 1956 not more than 1/3rd of the total number of Directors can be non-rotational Directors.
Hope this solves your query.