Board of directors

Board of directors: the governing body of a company generally appointed by the shareholders and ultimately responsible for the management and oversight of a company. The board of directors should meet on a regular basis to discuss the business and ensure that the directors are performing their statutory duties. It is good practice to hold regular board meetings approximately four to eight times per year, with additional special meetings scheduled as needed (such as to approve a transaction or discuss a specific matter that requires the input of the board of directors). Significant corporate actions, like amending the articles of association or selling the company, require the approval of the board of directors.