Let y = age of the younger man now
d = age now of the director that was replaced
S = sum of ages of the other 7 directors now
Three years ago, the age of the younger man was y-3, the age of the replaced director was d-3, and the sum of the ages of the other 7 directors was S-21.
Average age now = (sum of ages of the 8 directors now)/8
= (y + S)/8
Average age 3 years ago = (d - 3 + S - 21)/8
So, (y + S)/8 = (d - 3 + S - 21)/8
Therefore, y + S = d + S - 24
y = d - 24
The age of the younger man now is 24 years less than the replaced director's age now.