Board of Advisors

The board of advisors is a group that will bring impactful knowledge in the company. It's an informal group of experts and advisors that will help with different perspectives and ideas. Their input is essential in decision-making but, compared with the board of directors, they usually don’t have a voting right and cannot be held liable.

The advisors on the board are selected by the management team based on the company's present needs; the aim is to bring in new people who provide support and have the necessary knowledge in the areas that need fresh input. BOA is more flexible in structure and in how it can be managed compared to the board of directors. In terms of rewarding the BOA members, it differs from company to company; the type of compensation is decided by the business management.