What Does a Director on the Board of Directors Responsible for Doing?

A director on the board of directors is responsible for the overseeing the management of the company at a high level. Directors elect/appoint the officers, which are the CEO, CFO, CIO, CMO, COO, and other executives in charge of running the organization on a day-to-day level.   Directors on the board are elected by the shareholders/owners of the company. Directors also set executive compensation, approve dividends, and have the power to establish committees.   Directors also act as the stockholder’s representatives in establishing policies for corporate management and making other decisions on major company issues.

Directors generally do not earn a salary. Some companies compensate directors for their expenses or per meeting attended, and some companies have unpaid directorships.  Every corporation must have at least one (1) director.  In California, a corporation must have at least 3 directors, unless there are less than 3 shareholders.

 

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AXIS Legal Counsel’s Business and Corporations Practice provides legal advice to numerous businesses with a wide range of business matters. Axis  represent small, medium-sized, and large business clients with a wide variety of business and corporate law matters. We represent early-stage companies as well as established businesses on a wide variety of business law matters, ranging from contracts and transactions, intellectual property, labor/employment law, business financing, mergers and acquisitions, real estate, insurance, business succession planning, and general advice and counsel.  For information on retaining AXIS Legal Counsel to represent your business in connection with any legal matter, contact info@axislc.com or call (213) 403-0100 for a confidential consultation.

 

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