Board of Trustees

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Board of Trustees

A body elected or appointed to govern a nonprofit organization. It establishes general policies for the organization, manages its finances and hires/fires major executives. A board of trustees is usually a self-perpetuating body.
References in periodicals archive ?
In any case, many trustee boards are chaired by the company's finance director, who wants to keep an eye on the scheme's investments and can do so in a money purchase scheme without risking the conflicts of interest that can arise when pensions are linked to final salaries and the company shoulders the entire investment risk.
The issue, coupled with changes to pension regulations that make it increasingly difficult for company directors to manage conflicts of interest, could lead to a brain drain of valuable investment expertise from trustee boards, according to Aon Consulting, the pensions, benefits and HR consulting firm.
Many trustee boards of large UK pension schemes still face corporate governance difficulties, according to a new study from accountants PricewaterhouseCoopers.