Board of Directors

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202081

Term: Board of Directors

Definition:A body of elected or appointed members who provide oversight and advice to an organization's management. In the advisory role, board members consult with management regarding the strategic and operational direction of the company. In the oversight role, they monitor the organization's performance and control costs. In a public company the board represents the interests of the shareholders. One of the board's most important responsibilities is to design effective compensation packages for the organization's executives.

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26 - Compensation Committees: Framework for Executive Compensation Alignment 10
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