Managementboard

Management board, sometimes written as managementboard, is the executive body responsible for the day-to-day management of an organization. In many jurisdictions it is the highest level of management and is tasked with implementing strategy, running operations, and stewarding resources. In two-tier governance systems, the management board operates under a separate supervisory body and reports to it; in one-tier systems, the equivalent body is often called the executive board or management committee and reports to the board of directors.

The management board’s duties typically include setting and executing strategic objectives, budgeting and financial management, overseeing operations, and managing human resources, information technology, and risk and compliance. It is responsible for internal controls, performance monitoring, corporate culture, and the timely preparation of financial statements and reports for the board and investors. It makes day-to-day decisions on investments, acquisitions, major contracts, and resource allocation, all within the framework of organizational policies and applicable law.

Composition and appointment vary by jurisdiction and entity type. The management board generally consists of the chief executive and other senior executives, appointed by the supervisory or shareholders’ body and subject to fiduciary duties and performance assessments. Tenure, removal, and eligibility rules are defined by corporate law, the articles of association, and governance codes.

Accountability flows from the management board to the board of directors or shareholders, and may be augmented by audit committees and external auditors. Legal duties include care and loyalty, compliance with laws and regulations, and liability for mismanagement or breaches of fiduciary duty.