The Responsibilities of Boards of Directors

Responsible for overseeing investment activities into early and expansion stage retail and consumer non-durable product companies, RoAnn Costin serves as managing director of Wilderness Point Investments. In addition to this, RoAnn Costin shares her expertise as a member of more than 10 nonprofit and corporate boards.

The board of directors ensures that a company is profitable by directing company affairs and meeting the interests of its stakeholders and shareholders. The group is responsible for recruiting, retaining, and compensating general managers and CEOs of organizations. They must actively search within their industry for viable leaders capable of leading and building their teams, which adds value to a business. These individuals are responsible for hiring all other employees in an organization, so they play a vital role in its performance.

In addition, the board of directors provides direction for the organization. This includes the mission, goals, and vision of the business. The CEO or general manager often assists with establishing and adhering to this direction.

Since boards of directors have a strong hand in the organization’s direction, they demonstrate effective problem-solving when facing certain issues. This is why boards seek specific members for their ranks. Members are capable of answering tough questions and ensuring the company functions smoothly when faced with challenges. They are not individuals seeking any board seat.