Who is the governing body that is elected by stockholders of a corporation?

The governing body elected by stockholders of a corporation is the board of directors. This group is responsible for overseeing the company's management and making key decisions on various aspects of the business, including major policies, corporate governance, and fiduciary responsibilities to shareholders. The board represents the interests of the shareholders and holds the authority to make crucial decisions, such as appointing executive officers and approving substantial transactions.

In contrast, the management team is responsible for the day-to-day operations of the company but is not elected by stockholders; they are typically appointed by the board. An executive committee may be formed within the board to focus on specific issues or tasks, but it does not have the independent governing authority that the full board holds. An advisory board consists of individuals who offer guidance and support but do not have the authority or responsibility of governance and are usually not elected by stockholders.