This is the 605th most frequent Hebrew word.
מנהלת
Director, manager, or principal (female).
In this sentence, 'מנהלת' refers to a principal, specifically a female one, owing to the feminine form of the word.
המנהלת חדשה בבית הספר שלנו היא מאוד נחמדה.
The new principal at our school is very nice.
Here, 'מנהלת' is used as a verb meaning 'manages' in the feminine singular present tense.
היא מנהלת את המחלקה עם המון כישרון ודייקנות.
She manages the department with great talent and precision.
In this instance, 'מנהלת' acts as an adjective, describing a type of meeting related to 'management'.