The Board represents the other people whose approval is neccesary for people who are incapable of making decisions on their own, most notably James Taggart, who treats approval of the Board as a scientific test of truth.
In Section132 we learn the Board approved the development of the San Sebastian Line and that numerous Board members quit in protest.
The Board of Directors of Taggart Transcontinental is mentioned in:
Section114 Section132 Section143 Section145