Proprietor or new director? (5)
I believe the answer is:
'proprietor' is the definition.
'or new director?' is the wordplay.
'or new' anagrams to 'OWNER'.
However, I am not sure how this is indicated.
Can you help me to learn more?
(Other definitions for owner that I've seen before include "Holder, possessor", "One who possesses", "Title-holder", "Possessor, proprietor", "The one in lawful possession".)