The quick answer
Yes you can still be a company director.
In more detail
You can be a company director unless you are an undischarged bankrupt or you have been disqualified from being a director by the Insolvency Service. An Individual Voluntary Arrangement (“IVA”) is a confidential agreement between you and your creditors. It does not stop you being a director.
The IVA will be registered with the Secretary of State and is available to credit reference agencies to search so it does have an effect on your personal credit rating for up to 6 years. The credit agencies do not know the terms of your IVA only that you have entered into one.