Board of Directors

A group of people elected by the company’s shareholders (often to the terms of the negotiated Shareholders Agreement) that makes decisions on major company issues, including hiring/firing the Chief Executive Officer.7

Related Terms

Shareholder’s Agreement | Operating Agreement | Staggered Board

Related Articles

Board Observer Rights: What Are They and Why Are They Important to Investors?

14 Types of Information Investors May Request As Part Of Their Due Diligence Checklist For Your Startup

Tony Lettich

Tony Lettich has previous Business Analysis, Business Valuation, M&A, and Venture Capital experience and currently serves as the Managing Director of The Angel Roundtable and a Partner in Sheehan, Lettich M&A Advisory. He is also a co-founder of FundingSage, which provides valuable information, tools and resources to entrepreneurs seeking to launch and build startups.