Corporate Terminology
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[edit] Board of Directors
The Board of Directors is the body elected by the shareholders to oversee a corporation's management. The Directors must be individual shareholders themselves, or persons designated by an institutional shareholder (like a corporation or a state). Some corporation also includes in the board officers, division's heads or employees' representatives with or without a voting right. The board elects its chairman to organize and lead the board's meetings, as well as all of the corporation's officers. Unlike the Shareholders General Assembly, where voting right is calculated according to the amount of shares owned, most board function on a "one seat, one voice" basis. In some corporation, the chairman is granted a second voice when there is a need of a tie-breaker.
[edit] Chairman of the Board
The Chairman of the Board of a corporation is a member of the Board of Directors elected by his peers to determine the agenda of reunions and corporate officers' presentations, and ensure that the board work efficiently. It's not uncommon for the Chairman to also hold the offices of President or Chief Executive Officer. In some corporations, the by-laws give the Chairman an additional vote when there is a draw.
[edit] Chief Executive Officer
The Chief Executive Officer or CEO of a company is the executive responsible for the management of its day-to-day activity. He usually has the ultimate decision authority and reports to the Board of Directors who nominated and can fire him.
Renown CEOs in the 6th World are:
But there are a lot others, because nearly any corporation has at least one.
[edit] Chief Operating Officer
Usually second in operational command of a corporation after the CEO, the Chief Operating Officer (COO) handles the tactical side of keeping the corporation running, freeing the CEO up to worry about the strategic side of things.
See allso:
