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TeachMeFinance.com - explain board of directors board of directors -- the group of persons who make up the governing body of an institution, and are responsible for policy and overall direction of the organization. historic definition... Board of directors -- The governing body of an incorporated company. The word directorate is sometimes used in place of the longer term board of directors ; sometimes, also, the word directory is used in place of board of directors. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.