Who comprises the governing body of a corporation?

The governing body of a corporation is primarily made up of directors. Directors are responsible for overseeing the management of the corporation and making high-level decisions that shape the company's direction and strategy. They are elected by the shareholders to represent their interests, ensuring that the company adheres to its goals while complying with legal and regulatory requirements.

Directors have a fiduciary duty to act in the best interests of the corporation and its shareholders, which includes setting policies, approving budgets, and making significant business decisions. Their role is distinct from that of managers, who handle the day-to-day operations of the company, and from employees, who carry out various functions within the organization. Shareholders, while they own the company and have voting rights, do not directly manage or govern the corporation; instead, they elect directors to fulfill that role on their behalf.