Answer:
are elected by shareholders
Step-by-step explanation:
When a company is formed it has owners who are called shareholders. These are the people that fund the companie's activities.
Share holders cannot be involved in the day to day running of the company. So they hire a board of directors that will monitor the activities of the company and ensure shareholder's interest are being satisfied.
The board of directors analyse how the management of the company are running their daily activities and make necessary adjustments when set objectives are not being met.