选举 (xuǎnjǔ) means "election." It can function as both a noun referring to the event of an election and a verb meaning "to elect." It is used in political and organizational contexts.
今年的选举结果出来了吗?
Jīnnián de xuǎnjǔ jiéguǒ chūlái le ma?
Have the results of this year's election come out?
公司要选举新的董事长。
Gōngsī yào xuǎnjǔ xīn de dǒngshìzhǎng.
The company is going to elect a new chairman of the board.
很多市民积极参加了这次选举。
Hěn duō shìmín jījí cānjiā le zhè cì xuǎnjǔ.
Many citizens actively participated in this election.