board of directors Hear it!

board of directors Finance Definition
The body that manages a U.S. corporation. The board appoints top managers, approves their compensation, votes to issue dividends, decides whether to approve a merger, and handles many other big-picture issues. The size of boards vary.
board of directors Law Definition

n

The governing body of a corporation elected by the shareholders to establish and carry out corporate policy, select the corporation’s officers, make certain major decisions concerning the corporation’s business and finances, and to oversee the corporation’s operations.