Who typically sits on the Board of Directors (BOD) in a business structure?

In a business structure, the Board of Directors (BOD) typically consists of members who have the authority to make significant decisions concerning the company. This often includes both the Chief Executive Officer (CEO) and the Chief Operating Officer (COO), as they are pivotal in the company's strategic direction and operational management, respectively. Having both of these executives on the board allows for a comprehensive perspective on both high-level strategy and day-to-day operational concerns.

The inclusion of the CEO provides insight into the overall vision and objectives of the company, whereas the COO adds valuable operational expertise, ensuring that the strategies set forth by the board are practical and executable. By having both, the board is better equipped to make informed decisions that consider the broader context of the company's performance and strategic goals.

Lower management typically does not sit on the Board of Directors, as the board is reserved for higher-level executives and independent directors who can provide oversight and bring a wide range of experiences and perspectives to the company's governance.