Board member

A person who manages the company day-to-day and represents it externally. Membership is on the public Business Register.

The management board (juhatus) is the executive body of a company — responsible for day-to-day operations and for representing the company externally (signing contracts, dealing with banks, signing documents). A private limited (OÜ) needs at least one board member; a public limited (AS) typically up to five unless the articles of association say otherwise.

A board member doesn't have to be a shareholder — this is the separation of ownership and control. One person can sit on many boards simultaneously; Estonia's most prolific "portfolio directors" serve on 5–10 boards or more.

Board members carry personal liability: they answer with their own assets for breaches committed in managing the company. D&O insurance is the typical hedge.

On firmaotsing.ee, each company's board is shown as a dedicated panel with role start dates. Each board member's page (/inimene/...) lists every active and past seat they have held.