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Corporate titles or business titles are given to corporate officers to show what duties and responsibilities they have in the organization. Such titles are used by publicly and privately held for-profit
corporation A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal context) and ...
s,
cooperative A cooperative (also known as co-operative, co-op, or coop) is "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-contro ...
s,
non-profit A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...
organizations, educational institutions,
partnership A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments ...
s, and
sole proprietorship A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity. A sole ...
s also confer corporate titles.


Variations

There are considerable variations in the composition and responsibilities of corporate title. Within the corporate office or corporate center of a corporation, some corporations have a chairman and
chief executive officer A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especial ...
(CEO) as the top-ranking executive, while the number two is the
president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university * President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ...
and
chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if ...
(COO); other corporations have a president and CEO but no official deputy. Typically, senior managers are "higher" than
vice president A vice president, also director in British English, is an officer in government or business who is below the president (chief executive officer) in rank. It can also refer to executive vice presidents, signifying that the vice president is on ...
s, although many times a senior officer may also hold a vice president title, such as executive vice president and chief financial officer (CFO). The board of directors is technically not part of management itself, although its chairman may be considered part of the corporate office if he or she is an executive chairman. A corporation often consists of different businesses, whose senior executives report directly to the CEO or COO, but that depends on the form of the business. If organized as a
division Division or divider may refer to: Mathematics *Division (mathematics), the inverse of multiplication *Division algorithm, a method for computing the result of mathematical division Military *Division (military), a formation typically consisting ...
then the top manager is often known as an executive vice president (EVP). If that business is a subsidiary which has considerably more independence, then the title might be chairman and CEO. In many countries, particularly in Europe and Asia, there is a separate executive board for day-to-day business and
supervisory board In corporate governance, a governance board also known as council of delegates are chosen by the stockholders of a company to promote their interests through the governance of the company and to hire and fire the board of directors. In civil s ...
(elected by shareholders) for control purposes. In these countries, the CEO 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 Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a Government agency, government body. It is the art and science of managing resources of the business. Management includ ...
by the executive board and
governance Governance is the process of interactions through the laws, norms, power or language of an organized society over a social system ( family, tribe, formal or informal organization, a territory or across territories). It is done by the gove ...
by the supervisory board. This seemingly allows for clear lines of authority. There is a strong parallel here with the structure of government, which tends to separate the political cabinet from the management civil service. In the United States and other countries that follow a single-board corporate structure, the board of directors (elected by the shareholders) is often equivalent to the European or Asian supervisory board, while the functions of the executive board may be vested either in the board of directors or in a separate committee, which may be called an operating committee (J.P. Morgan Chase), management committee (Goldman Sachs), executive committee (
Lehman Brothers Lehman Brothers Holdings Inc. ( ) was an American global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, a ...
), executive council ( Hewlett-Packard), or executive board ( HeiG) composed of the division/subsidiary heads and senior officers that report directly to the CEO.


United States

State laws in the United States traditionally required certain positions to be created within every corporation, such as
president President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university * President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ...
,
secretary A secretary, administrative professional, administrative assistant, executive assistant, administrative officer, administrative support specialist, clerk, military assistant, management assistant, office secretary, or personal assistant is a ...
and
treasurer A treasurer is the person responsible for running the treasury of an organization. The significant core functions of a corporate treasurer include cash and liquidity management, risk management, and corporate finance. Government The treasury ...
. Today, the approach under the '' Model Business Corporation Act'', which is employed in many states, is to grant corporations discretion in determining which titles to have, with the only mandated organ being the board of directors. Some states that do not employ the MBCA continue to require that certain offices be established. Under the law of
Delaware Delaware ( ) is a state in the Mid-Atlantic region of the United States, bordering Maryland to its south and west; Pennsylvania to its north; and New Jersey and the Atlantic Ocean to its east. The state takes its name from the adjacent Del ...
, where most large US corporations are established, stock certificates must be signed by two officers with titles specified by law (e.g. a president and secretary or a president and treasurer). Every corporation incorporated in
California California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the m ...
must have a chairman of the board or a president (or both), as well as a secretary and a chief financial officer.
Limited liability company A limited liability company (LLC for short) is the US-specific form of a private limited company. It is a business structure that can combine the pass-through taxation of a partnership or sole proprietorship with the limited liability of ...
(LLC)-structured companies are generally run directly by their members, but the members can agree to appoint officers such as a CEO or to appoint "managers" to operate the company. American companies are generally led by a CEO. In some companies, the CEO also has the title of "president". In other companies, a president is a different person, and the primary duties of the two positions are defined in the company's bylaws (or the laws of the governing legal jurisdiction). Many companies also have a CFO, a
chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if ...
(COO) and other senior positions such as
chief legal officer A general counsel, also known as chief counsel or chief legal officer (CLO), is the chief in-house lawyer for a company or a governmental department. In a company, the person holding the position typically reports directly to the CEO, and their ...
(CLO),
chief strategy officer A chief strategy officer (CSO) is an executive that usually reports to the CEO and has primary responsibility for strategy formulation and management, including developing the corporate vision and strategy, overseeing strategic planning, and leading ...
(CSO),
chief marketing officer A chief marketing officer (CMO), also called a global marketing officer or marketing director, or chief brand officer, is a corporate executive responsible for managing marketing activities in an organization. Whilst historically these titles may ...
(CMO), etc. that report to the president and CEO. The next level, which are not executive positions, is middle management and may be called "vice presidents", "
directors Director may refer to: Literature * ''Director'' (magazine), a British magazine * ''The Director'' (novel), a 1971 novel by Henry Denker * ''The Director'' (play), a 2000 play by Nancy Hasty Music * Director (band), an Irish rock band * ''D ...
" or "managers", depending on the size and required managerial depth of the company.


United Kingdom

In British English, the title of
managing director A chief executive officer (CEO), also known as a central executive officer (CEO), chief administrator officer (CAO) or just chief executive (CE), is one of a number of corporate executives charged with the management of an organization especially ...
is generally synonymous with that of chief executive officer. Managing directors do not have any particular authority under the ''Companies Act'' in the UK, but do have
implied authority Implied Authority of Contract is a legal term. In contract law, it is the implied ability of an individual to make a legally binding contract on behalf of an organization, by way of uniform or interaction with the public on behalf of that organiza ...
based on the general understanding of what their position entails, as well as any authority expressly delegated by the board of directors.


Japan and South Korea

In Japan, corporate titles are roughly standardized across companies and organizations; although there is variation from company to company, corporate titles within a company are always consistent, and the large companies in Japan generally follow the same outline. These titles are the formal titles that are used on business cards. Korean corporate titles are similar to those of Japan. Legally, Japanese and Korean companies are only required to have a board of directors with at least one representative director. In Japanese, a company director is called a ''torishimariyaku'' (取締役) and a representative director is called a ''daihyō torishimariyaku'' (代表取締役). The equivalent Korean titles are ''isa'' (이사, 理事) and ''daepyo-isa'' (대표이사, 代表理事). These titles are often combined with lower titles, e.g. ''senmu torishimariyaku'' or ''jōmu torishimariyaku'' for Japanese executives who are also board members. Most Japanese companies also have
statutory auditor Statutory auditor is a title used in various countries to refer to a person or entity with an auditing role, whose appointment is mandated by the terms of a statute. World usage A "statutory audit" is a legally required review of the accuracy ...
s, who operate alongside the board of directors in supervisory roles. Under the commercial code in Japan, ''Jugyōin'' (従業員) meaning the "employee", is different from ''Kaishain'' (会社員), meaning the "stockholders". The typical structure of executive titles in large companies includes the following: The top management group, comprising ''jomu''/''sangmu'' and above, is often referred to collectively as "cadre" or "senior management" (幹部 or 重役; ''kambu'' or ''juyaku'' in Japanese; ''ganbu'' or ''jungyŏk'' in Korean). Some Japanese and Korean companies have also adopted American-style titles, but these are not yet widespread and their usage varies. For example, although there is a Korean translation for "
chief operating officer A chief operating officer or chief operations officer, also called a COO, is one of the highest-ranking executive positions in an organization, composing part of the " C-suite". The COO is usually the second-in-command at the firm, especially if ...
" (''최고운영책임자, choego unyŏng chaegimja''), not many companies have yet adopted it with the exception of a few multi-national companies such as
Samsung The Samsung Group (or simply Samsung) ( ko, 삼성 ) is a South Korean multinational manufacturing conglomerate headquartered in Samsung Town, Seoul, South Korea. It comprises numerous affiliated businesses, most of them united under the ...
and CJ (a spin-off from Samsung), while the CFO title is often used alongside other titles such as ''bu-sajang'' (SEVP) or ''Jŏnmu'' (EVP). Since the late 1990s, many Japanese companies have introduced the title of ''shikkō yakuin'' (執行役員) or 'officer', seeking to emulate the separation of directors and officers found in American companies. In 2002, the statutory title of ''shikkō yaku'' (執行役) was introduced for use in companies that introduced a three-committee structure in their board of directors. The titles are frequently given to ''buchō'' and higher-level personnel. Although the two titles are very similar in intent and usage, there are several legal distinctions: ''shikkō yaku'' make their own decisions in the course of performing work delegated to them by the board of directors, and are considered managers of the company rather than employees, with a legal status similar to that of directors. ''Shikkō yakuin'' are considered employees of the company that follow the decisions of the board of directors, although in some cases directors may have the ''shikkō yakuin'' title as well.


Senior management

The highest-level executives in senior management usually have titles beginning with "chief" and ending with "officer", forming what is often called the "C-suite", or "CxO", where "x" is a variable that could be any functional area (not to be confused with CXO). The traditional three such officers are CEO, COO, and CFO. Depending on the management structure, titles may exist instead of, or be blended/overlapped with, other traditional executive titles, such as ''president'', various designations of ''vice presidents'' (e.g. VP of marketing), and ''general managers'' or ''directors'' of various divisions (such as director of marketing); the latter may or may not imply membership of the ''board of directors''. Certain other prominent positions have emerged, some of which are sector-specific. For example,
chief audit executive The chief audit executive (CAE), director of audit, director of internal audit, auditor general, or controller general is a high-level independent corporate executive with overall responsibility for internal audit. Publicly traded corporations ...
(CAE), chief procurement officer (CPO) and
chief risk officer The chief risk officer (CRO) or chief risk management officer (CRMO) or chief risk and compliance officer (CRCO) of a firm or corporation is the executive accountable for enabling the efficient and effective governance of significant risks, and re ...
(CRO) positions are often found in many types of financial services companies. Technology companies of all sorts now tend to have a chief technology officer (CTO) to manage technology development. A chief information officer (CIO) oversees information technology (IT) matters, either in companies that specialize in IT or in any kind of company that relies on it for supporting infrastructure. Many companies now also have a
chief marketing officer A chief marketing officer (CMO), also called a global marketing officer or marketing director, or chief brand officer, is a corporate executive responsible for managing marketing activities in an organization. Whilst historically these titles may ...
(CMO), particularly mature companies in competitive sectors, where
brand management In marketing, brand management begins with an analysis on how a brand is currently perceived in the market, proceeds to planning how the brand should be perceived if it is to achieve its objectives and continues with ensuring that the brand is pe ...
is a high priority. A chief value officer (CVO) is introduced in companies where business processes and organizational entities are focused on the creation and maximization of value. Approximately 50% of the S&P 500 companies have created a
chief strategy officer A chief strategy officer (CSO) is an executive that usually reports to the CEO and has primary responsibility for strategy formulation and management, including developing the corporate vision and strategy, overseeing strategic planning, and leading ...
(CSO) in their top management team to lead strategic planning and manage inorganic growth, which provides a long range perspective versus the tactical view of the COO or CFO. This function often replaces a COO on the C-Suite team, in cases where the company wants to focus on growth rather than efficiency and cost containment. A chief administrative officer (CAO) may be found in many large complex organizations that have various departments or divisions. Additionally, many companies now call their top diversity leadership position the chief diversity officer (CDO). However, this and many other nontraditional and lower-ranking titles are not universally recognized as corporate officers, and they tend to be specific to particular organizational cultures or the preferences of employees.


Specific corporate officer positions

Chairman of the board – presiding officer of the corporate board of directors. The chairman influences the board of directors, which in turn elects and removes the officers of a corporation and oversees the human, financial, environmental and technical operations of a corporation. * The CEO may also hold the title of "chairman", resulting in an executive chairman. In this case, the board frequently names an independent member of the board as a lead director. The C-suite is normally led by the CEO. * Executive chairman – the chairman's post may also exist as an office separate from that of CEO, and it is considered an executive chairman if that titleholder wields influence over company operations, such as Steve Case of
AOL Time Warner Warner Media, LLC ( traded as WarnerMedia) was an American multinational mass media and entertainment conglomerate. It was headquartered at the 30 Hudson Yards complex in New York City, United States. It was originally established in 1972 by ...
and Douglas Flint of HSBC. In particular, the group chairmanship of HSBC is considered the top position of that institution, outranking the chief executive, and is responsible for leading the board and representing the company in meetings with government figures. Prior to the creation of the group management board in 2006, HSBC's chairman essentially held the duties of a chief executive at an equivalent institution, while HSBC's chief executive served as the deputy. After the 2006 reorganization, the management cadre ran the business, while the chairman oversaw the controls of the business through compliance and audit and the direction of the business. * Non-executive chairman – also a separate post from the CEO, unlike an executive chairman, a non-executive chairman does not interfere in day-to-day company matters. Across the world, many companies have separated the roles of chairman and CEO, often resulting in a non-executive chairman, saying that this move improves corporate governance. * Chief business officer is a corporate senior executive who assumes full management responsibility for the company's deal making, provides leadership and executes a deal strategy that will allow the company to fulfill its scientific/technology mission and build shareholder value, provides managerial guidance to the company's product development staff as needed. * Chief of staff is a corporate director level manager who has overall responsibility for the staff activity within the company who often would have responsibility of hiring and firing of the highest level managers and sometimes directors. They can work with and report directly to managing directors and the chief executive officer. * Commissioner * Financial control officer, FCO or FC, also comptroller or controller – supervises accounting and financial reporting within an organization * Director or member of a board of directors – high-level official with a fiduciary responsibility of overseeing the operation of a corporation and elects or removes officers of a corporation; nominally, ''directors'', other than the ''chairman'' are usually not considered to be employees of the company ''per se'', although they may receive compensation, often including benefits; in publicly held companies. A ''board of directors'' is normally made up of members (''directors'') who are a mixture of corporate officials who are also management employees of the company ( inside directors) and persons who are not employed by the company in any capacity (
outside director An independent director (also sometimes known as an outside director) is a member of a board of directors who does not have a material or pecuniary relationship with company or related persons, except sitting fees. In the United States, indepen ...
s or
non-executive director A non-executive director (abbreviated to non-exec, NED or NXD), independent director or external director is a member of the board of directors of a corporation, such as a company, cooperative or non-government organization, but not a member of th ...
s). In privately held companies, the ''board of directors'' often only consists of the statutory corporate officials, and in ''sole proprietorship'' and ''partnerships'', the board is entirely optional, and if it does exist, only operates in an advisory capacity to the owner or ''partners''. Non-profit corporations’ governing board members may be called ''directors'' like most for-profit corporations, or an alternative like ''trustees'', ''governors'', etc. *
Director Director may refer to: Literature * ''Director'' (magazine), a British magazine * ''The Director'' (novel), a 1971 novel by Henry Denker * ''The Director'' (play), a 2000 play by Nancy Hasty Music * Director (band), an Irish rock band * ''D ...
– a manager of managers within an organization who is often responsible for a major business function and who sometimes reports to a vice president (note that in some financial services companies the title vice president has a different meaning). Often used with name of a functional area; ''finance director'', ''director of finance'', ''marketing director'', and so on. Not to be confused with a ''member of the board of directors'', who is also referred to as a ''director''. This is a middle management and not an executive level position, unless it is in the banking industry. Alternatively, a manager of managers is often referred to as a "senior manager' or as an "associate vice president", depending upon levels of management, and industry type. *
President President most commonly refers to: *President (corporate title) * President (education), a leader of a college or university * President (government title) President may also refer to: Automobiles * Nissan President, a 1966–2010 Japanese ...
– legally recognized highest "titled" corporate officer, and usually a member of the board of directors. There is much variation; often the CEO also holds the title of president, while in other organizations if there is a separate CEO, the president is then second highest-ranking position. In such a case the president is often the COO and is considered to be more focused upon daily operations compared to the CEO, who is supposed to be the visionary. If the corporate president is not the COO (such as
Richard Parsons Richard Parsons may refer to: * Richard Parsons (diplomat) (1928–2016), British ambassador to Hungary, Spain and Sweden * Richard Parsons (businessman) (born 1948), former chairman of Citigroup and the former Chairman and CEO of Time Warner * Ri ...
of Time Warner from 1995 to 2001), then many division heads report directly to the CEO themselves, with the president taking on special assignments from the CEO. *
Secretary A secretary, administrative professional, administrative assistant, executive assistant, administrative officer, administrative support specialist, clerk, military assistant, management assistant, office secretary, or personal assistant is a ...
or company secretary – legally recognized "titled" corporate officer who reports to the board of directors and is responsible for keeping the records of the board and the company. This title is often concurrently held by the ''treasurer'' in a dual position called ''secretary-treasurer''; both positions may be concurrently held by the ''CFO''. Note, however, that the ''secretary'' has a reporting line to the board of directors, regardless of any other reporting lines conferred by concurrent titles. *
Treasurer A treasurer is the person responsible for running the treasury of an organization. The significant core functions of a corporate treasurer include cash and liquidity management, risk management, and corporate finance. Government The treasury ...
– legally recognized corporate officer entrusted with the fiduciary responsibility of caring for company funds. Often this title is held concurrently with that of ''secretary'' in a dual role called ''secretary-treasurer''. It can also be held concurrently with the title of ''CFO'' or fall under the jurisdiction of one, though the CFO tends to oversee the finance department instead, which deals with accounting and audits, while the treasurer deals directly with company funds. Note, however, that the ''treasurer'' has a reporting line to the board of directors, regardless of any other reporting lines conferred by concurrent titles. *
Superintendent Superintendent may refer to: *Superintendent (police), Superintendent of Police (SP), or Senior Superintendent of Police (SSP), a police rank *Prison warden or Superintendent, a prison administrator *Superintendent (ecclesiastical), a church exec ...
*
Owner Ownership is the state or fact of legal possession and control over property, which may be any asset, tangible or intangible. Ownership can involve multiple rights, collectively referred to as title, which may be separated and held by different ...
(sometimes proprietor or sole proprietor, for
sole proprietorship A sole proprietorship, also known as a sole tradership, individual entrepreneurship or proprietorship, is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity. A sole ...
s) * Partner – Used in many different ways. This may indicate a co-owner as in a legal partnership or may be used in a general way to refer to a broad class of employees or temporary/contract workers who are often assigned field or customer service work. Associate is often used in a similar way. * Vice chair or
vice chairman The chairperson, also chairman, chairwoman or chair, is the presiding officer of an organized group such as a board, committee, or deliberative assembly. The person holding the office, who is typically elected or appointed by members of the group ...
– officer of the board of directors who may stand in for the ''chairman'' in his or her absence. However, this type of vice chairman title on its own usually has only an advisory role and not an operational one (such as
Ted Turner Robert Edward "Ted" Turner III (born November 19, 1938) is an American entrepreneur, television producer, media proprietor, and philanthropist. He founded the Cable News Network (CNN), the first 24-hour cable news channel. In addition, he fo ...
at Time Warner). An unrelated definition of ''vice chair'' describes an executive who is higher ranking or has more seniority than ''executive vice president''. Sometimes, EVPs report to the vice chair, who in turn reports directly to the CEO (so vice chairs in effect constitute an additional layer of management), other vice chairs have more responsibilities but are otherwise on an equal tier with EVPs. Executive vice chairman are usually ''not'' on the board of directors. Royal Bank of Canada previously used vice chairs in their inner management circle until 2004 but have since renamed them as ''group heads''.


List of chief officer (CO) titles


Middle management

* Supervisor * Foreman *
General manager A general manager (GM) is an executive who has overall responsibility for managing both the revenue and cost elements of a company's income statement, known as profit & loss (P&L) responsibility. A general manager usually oversees most or all of ...
or GM * Manager * Of counsel – A lawyer working on a part-time or temporary basis for a company or law firm. *
Vice president A vice president, also director in British English, is an officer in government or business who is below the president (chief executive officer) in rank. It can also refer to executive vice presidents, signifying that the vice president is on ...
– Middle or upper manager in a corporation. They often appear in various hierarchical layers such as ''executive vice president'', ''senior vice president'', ''associate vice president'', or ''assistant vice president'', with EVP usually considered the highest and usually reporting to the CEO or president. Many times, corporate officers such as the ''CFO'', ''COO'', ''CSO'', ''CIO'', ''CTO'', ''secretary'', or ''treasurer'' will concurrently hold ''vice president'' titles, commonly EVP or SVP. Vice presidents in small companies are also referred to as chiefs of a certain division, such as vice president for finance, or vice president for administration. Note that in some financial contexts, the title of vice president is actually subordinate to a director.


See also

* Corporate liability * Identification with corporation * International Executive Resources Group *
List of corporate titles Corporate titles or business titles are given to company and organization officials to show what duties and responsibilities they have in the organization. List of corporate titles * Chief administrative officer (CAO) - A top-tier executive wh ...


References


External links


Taking Stock - Corporate Execs Get Scammed
Federal Bureau of Investigation The Federal Bureau of Investigation (FBI) is the domestic intelligence and security service of the United States and its principal federal law enforcement agency. Operating under the jurisdiction of the United States Department of Justice, ...
{{DEFAULTSORT:Corporate Title
Title A title is one or more words used before or after a person's name, in certain contexts. It may signify either generation, an official position, or a professional or academic qualification. In some languages, titles may be inserted between the f ...
. Corporation-related lists Lists of occupations Management occupations Positions of authority