A supervisory board or supervisory committee, often called board of directors, is a group of individuals chosen by the stockholders of a company to promote their interests through the governance of the company and to hire and supervise the executive directors and CEO.
Corporate governance varies between countries, especially regarding the board system. There are countries that have a one-tier board system (like the U.S.) and there are others that have a two-tier board system like Germany.
In a one-tier board, all the directors (both executive directors as well as non-executive directors) form one board, called the board of directors.
In a two-tier board there is an executive board (all executive directors) and a separate supervisory board (all non-executive directors).
Read more about Supervisory Board: Germany
Famous quotes containing the word board:
“On board ship there are many sources of joy of which the land knows nothing. You may flirt and dance at sixty; and if you are awkward in the turn of a valse, you may put it down to the motion of the ship. You need wear no gloves, and may drink your soda-and-brandy without being ashamed of it.”
—Anthony Trollope (1815–1882)