Glossarytaught in E11.04
Board of directors
Also called the board, directors.
The body legally responsible for directing a company on behalf of its shareholders.
Its composition is disclosed with each director's tenure, other directorships and attendance. Twelve members, six of them independent, is a common Indian configuration.
Boards matter most in situations where the controlling shareholder's interest and the minority's diverge: a related-party transaction, an acquisition from a promoter entity, a scheme of arrangement, or an executive pay decision.
Read the board through the decisions it approved, and give its biographies less weight.