One of the directors of a company is being appointed as chairman. He shall remain so for his life term. Is there a particular term/word to describe a person holding a position or office for life?
Example:
There's actually nothing in the Constitution that explicitly promises federal judges "lifetime appointments."
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In academia, this is called being tenured.
http://www.dictionary.com/browse/tenured
That term isn't normally used in business, but the meaning would be unambiguous if used of a company chairman.
Elsewhere, whole-life-term appointments can be shown by just prefixing "life", for example a "life peer" in the UK's House of Lords.
However, the most standard way of expressing this is a phrase, rather than a single word: lifetime appointment