Definition: is a process of appointing the directors of a company or an organization, typically executed by its first and original investors at the beginning of a company’s growth. Normally, the investors pick the directors among themselves. The appointed directors are named in the association articles after they sign the required documents and agree to take the head position. An appointment of directors usually takes place during the general meetings. Even though the procedure is commonly carried out by the investors at the beginning of a business’s development, the existing directors can also fill the board of directors vacancies later. However, their decisions might require a confirmation from the investors, depending on the company rules.
In a Sentence:
The first appointment of directors took place in 2007 when Mr. Lee became the head of the company.
During the next meeting, we will proceed with the appointment of directors since we have a couple of unoccupied positions available.
I believe Mr. Stevenson is going to participate in the next appointment of directors. I heard he wanted to appoint Mr. Mason as the new head of the management department.
Synonyms and related words: director, appointment, remuneration of directors, resignation of directors, advisory board of directors, articles of association, board of directors