This statement is True.
While stockholders elect the board of directors of a corporation, the board of directors hires the president, vice president, and other officers, who manage the corporation.
Who are the board of directors in the company?
- A corporation's board of directors, chosen by the stockholders.
- The board of directors is made up of one or more members, also known as directors, who are all typically a mix of company insiders (like officers and stockholders) and outsiders (non-company persons), each of whom is a natural person.
- The management of the corporation eventually falls within the board's purview.
Who are the stockholders?
- Any individual, business, or organization that has stock in a corporation is a shareholder.
- A shareholder of a firm may own just one share.
- As residual claimants on a company's profits, shareholders may be subject to capital gains (or losses) and/or dividend payments.
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