What does the Board of Directors consist of?
Answers:
In the USA the board is usually made up of independent non-employee directors and the CEO. All these people are representatives and fiduciaries of the shareholders. In public companies certain work is delegated to committees of outside directors to provide even better governance (examples: compensation and audit). Another clear board duty is the CEO hire/fire power. Usually the CEO would consult the board on hire/fire decisions regarding other corporate officers.
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