Final answer:
The board of directors is the primary institution of corporate governance in a company. They are elected by the shareholders and ensure that the company is run in the interests of the shareholders.
Step-by-step explanation:
The board of directors is the primary institution of corporate governance in a company. They are elected by the shareholders and provide oversight for top executives. The board of directors ensures that the company is run in the interests of the shareholders. They make important decisions for the company and are responsible for setting strategic goals and financial policies.
The board of directors, also known as the governing body or board of trustees, plays a crucial role in corporate governance. They are responsible for hiring top executives, making major strategic decisions, and ensuring the company operates ethically and in compliance with laws and regulations.