The Board of Directors directs, supervises and represents the organization, be it a private or a public company or a non-profit legal entity. It must function as a small democracy. Every Director, be it the Chairperson, the Vice-Chair, an Executive Director or a Dependent or an Independent Non-executive Director or the Leading Independent Director must be equal in both expressing her or his opinion and in voting. Being the head of the organization the Board, it reflects the organization and needs to operate effectively and efficiently. It needs well defined processes with key performance indicators, objectives, goals and targets and performance measurements. For the processes to be productive, requisite competences and competencies need to be identified and any gaps to available ones must be bridged via development and replacements. The Chairperson must not only manage effectively and efficiently the Board but also its relations with the Chief Executive Officer and with the organizations environment: shareholders, investors and bankers, regulators, customer associations and community representatives. The Board must be well structured with Committees responsible for core processes, such as Recruitment and Emoluments, Risk Management, Internal Audit. Last but not least, the Board must identify and live the Organization’s Values and spread them throughout the organization by defining its Code of Ethics.