Board of Directors

 

In a [wex:corporation], the board of directors is a groups of people, selected by the shareholders, who make the major decisions for the company. The exact responsibilities of the board are governed by the company’s [wex:articles_of_incorporation|articles of incorporation], but, in general, the board is responsible for choosing the [wex:corporate officers], selling shares of the company, distributing [wex:dividend|dividends], and responding to merger and takeover offers. The board has a [wex:fiduciary duty] to act in the best interest of the shareholders.