MCC is managed by a chief executive officer, appointed by the President with the advice and consent of the Senate, and is overseen by a Board of Directors. The Secretary of State serves as board chair and the Secretary of the Treasury as vice-chair. Other board members are the U.S. Trade Representative, the Administrator of the U.S. Agency for International Development, the Chief Executive Officer of MCC, and up to four Senate-confirmed nongovernmental members appointed by the President from lists of individuals submitted by congressional leadership. MCC's model of providing foreign aid is based on a set of core principles deemed essential for effective development assistance, including good governance, country ownership, focus on results, and transparency.