Any member of a company's board of directors who is either an employee or stakeholder in the company. Inside directors can either be management or major shareholders in the company.

Outside directors:

Any member of a company's board of directors who is not an employee or stakeholder in the company. Outside directors are advantageous because they have very little conflict of interest.

Board of Directors(B&D):

A group of individuals who are elected by stockholders to establish corporate management policies and make decisions on major company issues, such as dividend policies. These are the people who make decisions on your behalf for the company you invest in. Every public company must have a board of directors.