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in this video were going to discuss the composition in the role of the Board of Directors for a corporation so the Board of Directors is essentially a group of people and these people are called directors theyre elected by the common shareholders of a corporation to oversee the companys operations so if you own preferred stock youre not going to get to vote for the people who are gonna serve on the board of directors if you own common shares then you will get to vote to have some say in whos going to get on this board of directors now the duties of the board of directors are many so one of the things they do is they hire the CEO and if necessary they can fire the CEO so its up to the board of who is ultimately gonna get hired to run the company on a day-to-day basis they also determine the CEOs pay they declare and issue dividends they make decisions are related to acquisitions that the company might be involved with and then theyre in charge of overseeing the financial reportin