board of directors

Quick Reference

The governing body of a company, which appoints the company's officers. Most company directors are elected by shareholders at general meetings of the company, but a board may be given powers of co-option. Boards include executive directors, employed by the company full-time or for a major portion of their time, and may include non-executive directors. These usually either have suitable commercial experience, or are selected because they have titles or hold offices which make the company look respectable. Directors are normally paid fees for their services to a company.

Subjects: Law — Economics.

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