Which group is responsible for selecting the upper level management of a corporation?

The board of directors is primarily responsible for selecting the upper level management of a corporation. This group is tasked with overseeing the company's overall governance and strategy while ensuring that the interests of shareholders are represented. The board has the authority to hire and fire top executives, including the chief executive officer (CEO), and is responsible for evaluating their performance.

This structure provides a checks-and-balances system within the corporation, where the board operates independently of management to make decisions that promote the company's success. In many cases, the board also provides guidance and support to the management team, helping to shape the strategic direction of the company.

While shareholders have a role in electing board members and influencing corporate policies through their votes, they do not directly select upper management. Stakeholders encompass a broader group, including anyone affected by the company's activities, and the executive committee typically refers to a smaller, operational group within the management team that may assist in decision-making but does not have the overarching authority of the board.