Board of Directors
/ˈbɔːrd əv dəˈrɛktərz/
Definitions
- (n.) A group of individuals elected or appointed to oversee the management and strategic direction of a corporation or organization.
The board of directors approved the merger after a thorough review.
- (n.) In corporate governance, the legal body responsible for fiduciary duties and policy decisions affecting shareholders and stakeholders.
Members of the board of directors have a duty to act in the best interest of the company and its shareholders.
Forms
- boards of directors
Related terms
See also
Commentary
The board of directors is a fundamental legal entity in corporate law; clear distinction should be made between its oversight role and executive management functions.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.