Meaning of the word "board of directors" in English

What does "board of directors" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

board of directors

US /bɔrd əv dəˈrɛk.tərz/
UK /bɔːd əv dɪˈrɛk.tərz/
"board of directors" picture

Noun

a group of people chosen to manage the affairs of a company or organization

Example:
The board of directors approved the new budget.
She was appointed to the board of directors last month.