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Quote of the Day

One of the things I've had the advantage of, growing up and being close to the top management of this company and other companies for most of my life, is seeing how CEOs start to believe in their own infallibility. And that really scares me.

Bill Ford

CEO

Concept Briefing:

A Chief Executive Officer (CEO), or Chief Executive, is the highest-ranking corporate officer in charge of total management of a corporation, organization or agency.

In closely held corporations, especially in the US, it is general business culture that the office of Chief Executive Officer, CEO, is also the chairman of the board. Specifically, one person often shares the chairman and CEO titles while another person takes the presidency or may become chief operating officer (COO). In some European Union countries, there are two separate boards, one executive board for the day-to-day business and one supervisory board for control purposes (elected by the shareholders). In these countries, the chief executive officer presides over the executive board and the chairman presides over the supervisory board and these two roles will always be held by different people. This ensures a distinction between management by the executive board and governance by the supervisory board.

Typically, a CEO has a cadre of subordinate executives, each of which has specific functional responsibilities. These direct reporting relationships most often include: Chief Financial Officer, Chief Operating Officer, Chief Marketing Officer, Chief Information Officer and sometimes the Director of Human Resources.

8 Mar 2007 02:00:51

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