(1) The president of the corporation shall be appointed by the board subject to the approval of the Governor. The Governor shall, within thirty (30) days after receiving the nomination of the president in writing, either approve or reject the nomination. Failure to take either action within the required time shall constitute approval by the Governor. If the Governor rejects the nomination of the president, then the board shall submit a different nominee to the Governor. The president shall manage the daily affairs of the corporation and shall have such powers and duties as specified by this chapter, by the board, and any rules or regulations adopted by the board. The president shall not be a member of the board. The president shall serve at the will and pleasure of the board.
(2) The president shall employ such personnel as he or she deems necessary. All personnel shall serve at the will and pleasure of the president, unless otherwise specified by the president.
(3) The board shall set the salary of the president.
(4) No employee shall be a member of the board.
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