Board of Directors
A group of individuals elected by shareholders to govern a corporation, set strategic direction, and oversee management on behalf of the company's owners. The board's core responsibilities include hiring and evaluating the CEO, approving major decisions, ensuring financial integrity, and fulfilling fiduciary duties to shareholders. Board composition, powers, and procedures are defined by the company's articles of incorporation and bylaws.
Related Terms
The highest standard of legal obligation that directors and officers owe to the company and its shareholders, requiring ...
The system of rules, practices, and processes by which a company is directed and controlled, encompassing the relationsh...
The presiding officer of the board of directors who leads board meetings, sets the agenda, and serves as the primary lia...
A board member who has no material relationship with the company beyond their directorship, meaning they are not part of...
The internal rules and procedures adopted by a corporation to govern its operations, board structure, meeting requiremen...
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