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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. The term managing director is often used in lieu of chief executive officer.
Shareholders elect a board of directors, who in turn hire a chief executive officer (CEO) to lead management. The primary responsibility of the board relates to the selection and retention of the CEO. However, in many U.S. corporations the CEO and chairman of the board roles are held by the same person.
The most senior roles, marked by signing authority, are often referred to as "C-level", "C-suite" or "CxO" positions because many of them start with the word "chief". [2] Many positions at this level report to a president or chief executive officer , or to a company's board of directors . [ 3 ]
There are considerable variations in the composition and responsibilities of corporate titles. Within the corporate office or corporate center of a corporation, some corporations have a chairman and chief executive officer (CEO) as the top-ranking executive, while the number two is the president and chief operating officer (COO); other corporations have a president and CEO but no official deputy.
An executive officer is a person who is principally responsible for leading all or part of an organization, although the exact nature of the role varies depending on the organization. In many militaries and police forces, an executive officer, or " XO ", is the second-in-command, reporting to the commanding officer .
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Chairman - This particular role within the company is often a non executive role that also has the task of overseeing the entire business or organization. Managing Director (MD) [4] - A managing director is employed by the business, often by the chairman. Other roles include running the business and producing salaries.
The chief governance officer (CGO) is normally a senior vice executive reporting to the CEO; however, in the not-for-profit sector, when an organization uses policy governance, the chair of the board often takes on the role of CGO, who is tasked with directing the people, business processes and systems needed to enable good governance from inside the corporation in support of the board of ...