Which group comprises the individuals appointed by the board to manage day-to-day operations?

• A. Board of directors
• B. Corporate officers
• C. Shareholders
• D. Licensed managers

Answer: (B)

The people who run daily operations are the corporate officers, whom the board appoints to handle the day-to-day affairs of the company. The board of directors is responsible for governance, setting policy, and overseeing management, but it is the corporate officers—such as the chief executive, chief financial officer, and other executives—who carry out those policies and manage everyday activities, signaled decisions, and operations. Shareholders own the company and elect the board, but they do not directly manage daily functions. Licensed managers isn’t the standard term for this group in corporate governance; the day-to-day management is handled by the corporate officers appointed by the board.