Khulna Shipyard Limited (KSY) is a state owned public limited company. But its present operation under Bangladesh Navy is almost like a private limited company. KSY's Board of Directors is responsible for supervision of the overall affairs of the company. As such members of the Board are specially selected by the Government of the people's Republic of Bangladesh, from the segment of naval professionals and civil professionals who can contribute best to the KSY business operation. After taking over by Bangladesh Navy (BN) in Oct 1999 the company's Board of Directors was composed on adhoc basis with the senior officers of BN.
Present Board is composed of naval officers from different discipline of BN and civil officials of different relevant professionals. Chief of the Naval Staff is the Chairman of the Board. Generally the Board sits once in every quarter of the year. The Board held 4(four) meetings in 2007. Out of which three were held with the adhoc composition and last one held with the new composition. The composition of the permanent Board was derived after an appraisal meeting on KSY held on May 2007 in Naval Headquarters under the Chairmanship of Chief of the Naval Staff. This appraisal meeting was also attended by secretary Ministry of Defence. So far overall attendance at Board meeting was 100%.