Board of Trustees

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Definition of 'Board of Trustees'

A board of trustees is a group of individuals who are responsible for overseeing the management of an organization. They are typically appointed by the organization's founders or by a governing body, and they serve for a specified term of office.

The board of trustees is responsible for ensuring that the organization is managed in a responsible and ethical manner. They also have the authority to hire and fire the organization's CEO, and to approve the organization's budget.

In some cases, the board of trustees may also have the authority to make decisions about the organization's mission and strategic direction. However, this is not always the case, and in some organizations, the board of trustees may have a more limited role.

The board of trustees plays an important role in ensuring that the organization is successful. They provide oversight and guidance, and they help to ensure that the organization is managed in a way that is consistent with its mission and values.

Here are some of the key responsibilities of a board of trustees:

* Overseeing the management of the organization
* Approving the organization's budget
* Hiring and firing the organization's CEO
* Making decisions about the organization's mission and strategic direction
* Providing oversight and guidance to the organization's management team
* Ensuring that the organization is managed in a responsible and ethical manner

The board of trustees is a vital part of any organization. They play an important role in ensuring that the organization is successful and that it is managed in a way that is consistent with its mission and values.

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