Valdyba
Valdyba is the Lithuanian term for a formal governing body of an organization, commonly translated as board of directors or management board. It is established in corporate, nonprofit, cooperative, and public‑sector contexts, and its exact powers and composition are defined by the organization's statutes and applicable law.
The valdyba is responsible for strategic direction and oversight. Its core duties typically include approving budgets
Composition and operations vary by organization. Members are usually elected or appointed for defined terms and
In Lithuania, the term is widely used across many organizational forms, including private companies (notably those