The Board of Trustees is an independent body, self-perpetuating and self-governing, responsible only to itself, to the laws of North Carolina and of the United States of America, and to the fiscal and academic well-being of the University. The Board operates independent of external influences. The Board of Trustees shall be responsible for the establishment of policy of the University and shall appoint a President as chief executive officer of the University. The Board shall exercise its authority as a group and individual trustees shall have no authority to manage the affairs of the University. All Trustees and ex-officio members of the Board shall represent the best interests of the University as a whole and not merely the interests of the group(s) responsible for their election to the Board and shall adhere to a Code of Ethics.