The Board of Directors is the highest governing body of the Corporation. It determines and directs the fulfillment of the global development policy of the University and the medium- and long-term plans to implement it.
Its composition is the result of an appointments process which involves the President of the Republic, who has the power to appoint three Directors, whose tenure will last for as long as they have the President’s trust.
Another three Directors are appointed by the Academic Council from among distinguished professionals who do not exercise any function at the University. In addition, three similar positions are chosen from the full and associate professors - whether or not adjunct -, being these positions incompatible with any other direction function at the University. The President also integrates the Board, but has no voting rights.
At the March 2012 session, the Board of Directors appointed Alvaro Donoso-Barros as Chairman and Jorge Awad Mehech as Vice Chairman, who assumed in replacement of Jaime Crispi Soler, appointed by the Academic Council.
Among its specific functions, the Board is responsible for approving the annual budget of the Corporation and its amendments; the appointment of top executives; the validation of the organizational structure of the University and its amendments; and the contracting of loans against University funds.
It has the faculty to create, modify, or suppress degrees, diplomas, certificates, and the curricula leading to them, as well as the professional qualifications that apply. It has also the power to authorize the alienation, acquisition and encumbrance of real estate, the construction of new buildings and major restorations of existing ones.
The Board is also the body called to: decide on the annual account of the President; enact ordinances that are incumbent upon it; require from the President and from the individual or collective authorities all the background information it deems necessary for the exercise of its powers; remove the Comptroller and propose to the President of the Republic the removal of the University President, among other powers set out in the statutes of the Corporation.