A member of the Board of Directors, usually elected at the annual shareholders meeting. They are usually responsible for making decisions on major business issues that have a long term effect on the corporation. Day to day matters are left to the officers and employees of the corporation such as the president. Important decisions made by the board of directors would include a decision to borrow a significant sum of money or a decision for a merger or acquisition.
DIRECTOR
TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed.