the.com/board appointment
getting handed the keys, a seat, and zero actual power to drive.
means the formal act of naming someone to a company's board of directors, granting oversight duties and legal responsibility, not day-to-day control.
from from the medieval guild and trading company practice of assembling a table of overseers, literally a board, to supervise ventures too large or risky for one merchant alone.
legal dutyappointees owe fiduciary duty, personally, not just symbolically
paper trailpublic companies must disclose appointments within days, by law
real payaverage s&p 500 director earns over 300000 dollars yearly
for instance
elon musk tesla exit — 2018 sec settlement forced him off board chairman role
satya nadella microsoft chair — named board chairman in 2021 alongside ceo duties
jack ma alibaba departure — stepped down from board entirely in 2020