ELI5: Explain Like I'm 5

Board of directors

A board of directors is a group of people who have been chosen to manage the important decisions a company or organization makes. Every member of the board of directors is voted in by the owners of the company or organization. The board of directors meets regularly to decide things like how to use the company's money, how to make new products, and how to help the company grow. Most of the time, the board of directors is made up of experienced people who know a lot about running businesses. They use their knowledge to help the company make smart decisions that will help it be successful.