Collegiate body that directs the management of a company, supervising and guiding the management’s actions. Its members are appointed or ratified by the general meeting of shareholders. The members of the board are the directors, who can distribute among themselves the positions of president, vice president, secretary, and CEO. This term is also used to refer to the governing body of joint-stock companies that exercises the functions of direction, command, representation, and management of the company. It is composed of several members or directors, who must be more than two people and who are appointed by the general meeting of shareholders, so that one of them holds the position of president. The board can appoint one or more managing directors from among its members, or an executive committee.
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