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42 USC 1864 - Director of Foundation

(a) Appointment; compensation; term of office 
The Director of the Foundation (referred to in this chapter as the Director) shall be appointed by the President, by and with the advice and consent of the Senate. Before any person is appointed as Director, the President shall afford the Board an opportunity to make recommendations to him with respect to such appointment. The Director shall receive basic pay at the rate provided for level II of the Executive Schedule under section 5313 of title 5, and shall serve for a term of six years unless sooner removed by the President.
(b) Exercise of authority of Foundation; actions as final and binding upon the Foundation 
Except as otherwise specifically provided in this chapter
(1)  the Director shall exercise all of the authority granted to the Foundation by this chapter (including any powers and functions which may be delegated to him by the Board), and
(2)  all actions taken by the Director pursuant to the provisions of this chapter (or pursuant to the terms of a delegation from the Board) shall be final and binding upon the Foundation.
(c) Delegation and redelegation of functions 
The Director may from time to time make such provisions as he deems appropriate authorizing the performance by any other officer, agency, or employee of the Foundation of any of his functions under this chapter, including functions delegated to him by the Board; except that the Director may not redelegate policymaking functions delegated to him by the Board.
(d) Formulation of programs 
The formulation of programs in conformance with the policies of the Foundation shall be carried out by the Director in consultation with the Board.
(e) Authority to grant, contract, etc.; delegation of authority or imposition of conditions; reporting requirement 

(1) The Director may make grants, contracts, and other arrangements pursuant to section 1870 (c) of this title only with the prior approval of the Board or under authority delegated by the Board, and subject to such conditions as the Board may specify.
(2) Any delegation of authority or imposition of conditions under paragraph (1) shall be promptly published in the Federal Register and reported to the Committee on Labor and Human Resources, and the Committee on Commerce, Science, and Transportation, of the Senate and the Committee on Science of the House of Representatives.
(f) Status; power to vote and hold office 
The Director, in his capacity as ex officio member of the Board, shall, except with respect to compensation and tenure, be coordinate with the other members of the Board. He shall be a voting member of the Board and shall be eligible for election by the Board as Chairman or Vice Chairman of the Board.