What is a 'Chair Of The Board - COB'
A chair of the board (COB) is the most powerful member on the board of directors who provides leadership to the firm's officers and executives. The chair of the board ensures that the firm's duties to shareholders are being fulfilled by acting as a link between the board and upper management.
BREAKING DOWN 'Chair Of The Board - COB'
The chair of the board is voted into his or her position by a majority vote within the board of directors. Because the position has substantial interaction and influence with both the board and management, the chair is arguably the most powerful position in the company.