A CHIEF EXECUTIVE OFFICER (CEO) is the position of the most senior corporate officer, executive , leader or administrator in charge of managing an organization . CEOs lead a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (e.g., Crown corporations ). The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues, or another element. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc. Titles also often given to the holder of CEO position include president , CHIEF EXECUTIVE (CE), and MANAGING DIRECTOR (MD), as well as REPRESENTATIVE DIRECTOR (RD) in Japan .
* 1 Responsibilities
* 2 Characteristics
* 2.1 Celebrities
* 3 International use
* 4 Related positions
* 4.1 US * 4.2 UK
* 5 See also * 6 References * 7 Further reading * 8 External links
The responsibilities of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure. They can be far-reaching or quite limited and are typically enshrined in a formal delegation of authority. Typically, responsibilities include decision maker on strategy and other key policy issues, leader , manager, and executor. The communicator role can involve speaking to the press and the rest of the outside world, as well as to the organization's management and employees; the decision-making role involves high-level decisions about policy and strategy. As a leader of the company, the CEO or MD advises the board of directors, motivates employees, and drives change within the organization. As a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who makes all the key decisions regarding the company, which includes all sectors and fields of the business, including operations, marketing, business development, finance, human resources, etc. The CEO of a company is not necessarily the owner of the company.
Earlier in the century, top executives were more likely to have technical degrees in science and engineering or law. As of 2016, there were 20 female CEOs of S for instance, the California Corporate Disclosure Act defines "executive officers" as the five most highly compensated officers not also sitting on the board of directors. In the case of a sole proprietorship, an executive officer is the sole proprietor. In the case of a partnership, an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company, executive officer is any member, manager, or officer.
Main article: Corporate title
Typically, a CEO has several subordinate executives, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers. Subordinate executives are given different titles in different organizations, but one common category of subordinate executive is the vice-president (VP). An organization may have more than one vice-president, each tasked with a different area of responsibility (e.g., VP of finance , VP of human resources , VP of research and development , etc.). Some organizations have subordinate executive officers who also have the word "Chief" in their job title, such as Chief Operating Officer (COO), Chief Financial Officer (CFO) and Chief Technology Officer (CTO).
In the US, the term _chief executive officer_ is used primarily in business, whereas the term _executive director_ is used primarily in the not-for-profit sector. These terms are generally mutually exclusive and refer to distinct legal duties and responsibilities. Implicit in the use of these titles is that the public not be misled and the general standard regarding their use be consistently applied.
In the UK, "chief executive" and "chief executive officer", are used in both business and the charitable sector (not-for-profit sector). As of 2013 , the use of the term _director _ for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are normally non-executive (unpaid) roles.In the United Kingdom, the term _director_ is used instead of _chief officer_.
* ^ _A_ _B_ Lin, Tom C. W. (April 23, 2014). "CEOs and Presidents". Retrieved June 29, 2017 – via papers.SSRN.com. * ^ "Managing Director". _Longman Dictionary of Contemporary English_. Retrieved June 14, 2017. * ^ "代表取締役" (in Japanese). Japanese-English Dictionary. Retrieved March 31, 2017. * ^ "代表取締役" (in Japanese). NTT Resonant. Retrieved March 31, 2017. * ^ "Chief Executive Officer - CEO". _Investopedia_. Investopedia US, a Division of IAC. Retrieved 2014-10-23. * ^ "Chief Executive Officer (CEO)". _BusinessDictionary.com_. Web Finance Inc. Retrieved October 23, 2014. * ^ Capstone Publishing (2003). _The Capstone Encyclopaedia of Business_. Oxford, U.K: Capstone Publishing. pp. 79–80. ISBN 1-84112-053-7 . * ^ Bertrand, Marianne (2012), "CEOs", _Annual Review of Economics _, Annual Reviews , 1: 121–150, doi :10.1146/annurev.economics.050708.143301 * ^ Catalyst (2016) "Knowledge Center: Women CEOs of the S&P 500". Retrieved April 14, 2016. * ^ Eric Guthey and Timothy Clark, _Demystifying Business Celebrity_ (2009). * ^ Mathew L.A. Hayward, Violina P. Rindova, and Timothy G. Pollock. "Believing one's own press: The causes and consequences of CEO celebrity." _Strategic Management Journal_ 25#7 (2004): 637-653. * ^ Markus Menz (2011-10-04). "Menz, M. 2012. Functional Top Management Team Members: A Review, Synthesis, and Research Agenda. Journal of Management, 38(1): 45-80". Jom.sagepub.com. Retrieved 2012-11-28. * ^ "Association of Chief Executives of Voluntary Organisations". Acevo.org.uk. 2012-11-16. Retrieved 2012-11-28.
* Huang, Jiekun, and Darren J. Kisgen. "Gender and corporate finance: Are male executives overconfident relative to female executives?." _Journal of Financial Economics_ 108#3 (2013): 822-839. online * Kaplan, Steven N., Mark M. Klebanov, and Morten Sorensen. "Which CEO characteristics and abilities matter?." _Journal of Finance_ 67#3 (2012): 973-1007. online * Shleifer, Andrei, and Robert W. Vishny. "A survey of corporate governance." _Journal of Finance_ 52#2 (1997): 737-783. * Vancil, Richard F. _Passing the baton: Managing the process of CEO succession_ (Harvard Business School Press, 1987).