What is the role of the board of directors in corporate governance?

The board of directors has the role of oversight and governance. It oversees the activities in a business and supervises the company's management. The board sets the company's strategic aims, provides a company's leadership, oversees the business's management, and reports to the shareholders on the business operations. It also delegates special powers to the company's leaders, such as the CEO under various circumstances, and delegates responsibilities to the executives on its daily operations. Additionally, it is involved in laying down the laws and procedures for decision-making, through which it provides the structure for setting and achieving the company's objectives and monitoring its performance.