Management Glossary

  Search Results: board of directors
board of directors

A group of people elected by the owners (shareholders) of a company and charged with the responsibility of overseeing the the management of the company. B. oard responsibilities do not include the day-to-day running of the company. Instead, the board of directors' primary responsibility is to protect the interests of the company's owners (shareholders) through financial and strategic oversight.

Members of the board can also be employees of the company, typically serving in an executive role, but it is generally recognized that, to ensure good governance, the board should include a number (some people say it should be a large majority) of non-executive (also referred to as "outside") directors. This will help to see that the company serves the interests of its owners, not just the interests of its management.

Contributed by: Managerwise Staff
See: non-executive director

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