A more thorough explanation:

An executive board is a group of people who are elected to make important decisions for a corporation, partnership, association, or other organization. They are chosen by the shareholders or members to establish policies, elect or appoint officers and committees, and make other governing decisions.

For example, in a company, the executive board would be responsible for deciding on major business and financial decisions, appointing executive officers, and establishing corporate policies. In a charitable organization, the board of trustees would be responsible for overseeing the organization's activities and making decisions about how to use its resources.

Another type of board of directors is a staggered board of directors. This is a board where members' terms of service overlap so that only part of the board's makeup is voted on in any single election. Members serve terms of two or more years, with some members' terms expiring at each annual election.

Overall, the executive board is an important group of people who are responsible for making important decisions that affect the organization they represent.