It is run as a totally independent business with its own managementboard.
The Sun (2016)
Five of the managementboard were in favour of making change quickly, four swung heavily in the opposing direction and another four remained floating voters.
Times, Sunday Times (2008)
Definition of 'board'
board
(bɔːʳd)Explore 'board' in the dictionary
countable noun
The board of a company or organization is the group of people who control it and direct it.
[business]
Definition of 'management'
management
(mænɪdʒmənt)Explore 'management' in the dictionary
variable noun [with singular or plural verb]
You can refer to the people who control and organize a business or other organization as the management.