Hong Kong, Macau, Singapore, and Malaysia prefer 董事局; mainland China uses 董事会 (dǒngshìhuì) for the same thing — 'board of directors'. Both are correct; the term shifts with where the company is registered.
memory
董事 'director (of a company)' + 局 'bureau/office' — literally 'directors' bureau'. The 局 here is the same as in 邮局 'post office' or 警察局 'police station'.
