A public corporation is managed by a group of individuals known as the "board of directors." This board is responsible for making decisions about the corporation's overall strategy and direction, including appointing the CEO or general manager to run the day-to-day operations. The board is typically composed of a group of elected or appointed individuals who represent the interests of the corporation's shareholders or stakeholders. The board has a legal and fiduciary responsibility to act in the best interests of the corporation and its shareholders.