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In an organization with voting members, the board is accountable to, and may be subordinate to, the organization's full membership, which usually elect the members of the board. In a stock corporation , non-executive directors are elected by the shareholders , and the board has ultimate responsibility for the management of the corporation.
Corporate titles or business titles are given to company and organization officials to show what job function, and seniority, a person has within an organisation. [1] The most senior roles, marked by signing authority, are often referred to as "C-level", "C-suite" or "CxO" positions because many of them start with the word "chief". [2]
A non-executive director (abbreviated to non-exec, NED or NXD), independent director or external director is a member of the board of directors of a corporation, such as a company, cooperative or non-government organization, but not a member of the executive management team.
An ex officio member is a member of a body (notably a board, committee, or council) who is part of it by virtue of holding another office. The term ex officio is Latin , meaning literally 'from the office', and the sense intended is 'by right of office'; its use dates back to the Roman Republic .
In most New England towns, the adult voting population gathered annually in a town meeting to act as the local legislature, approving budgets and laws. Day-to-day operations were originally left to individual oversight, but when towns became too large for individuals to handle such work loads, they would elect an executive board of selected men (hence the name) to run things for them.
An advisory board is a body that provides non-binding strategic advice to the management of a corporation, organization, or foundation.The informal nature of an advisory board gives greater flexibility in structure and management compared to the board of directors.
The selected titles cover a wide range of topics that keep board members awake at night including the future of AI, corporate wrongdoing, succession battles, all things China, and startup drama.
Nasdaq's rules say that an independent director must not be an officer or employee of the company or its subsidiaries or any other individual having a relationship that, in the opinion of the company's board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director.