Final answer:
The board of directors is implementing the Leader-Member Exchange Theory by planning an organizational retreat to strengthen relationships and build team spirit.
Step-by-step explanation:
The board of directors wanting to hold an organizational retreat to interact with the CEO, staff, and volunteers can be associated with the Leader-Member Exchange Theory (LMX). This theory emphasizes the establishment of strong, trust-based relationships between leaders and their team members. It is grounded in the idea that through nurturing high-quality exchanges, leaders can foster a dedicated, loyal, and high-performing team. In this case, the retreat aims to build team spirit and strengthen relationships, aligning with the core principles of the LMX theory.