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Board of management
Also known as managing board or executive board. One of the three governance bodies of a German stock corporation. Its main duties are the day to day management and representation of the company. A board of management may have one or more members, all of whom are appointed by the supervisory board. The supervisory board may appoint one member to chair the board of management. The chairman of the board of management holds a position similar to that of a chief executive officer in the United States.