The Director of the Department of Labor, Licensing, and Regulation, or his designee, pursuant to Section 40-73-15, shall appoint and employ a qualified person to serve as executive director, and shall fix his compensation and define his duties. The executive director of the board shall have the power to make contracts, with board approval, for the furtherance of the board's functions and the management of the office. The director, or his designee, may employ such other persons as may be necessary to carry on the board's work. The salaries of employees and necessary expenses incurred in the performance of their duties shall be paid out of funds held by the board.