Business, Legal & Accounting Glossary
Publicly and privately held for-profit corporations often confer corporate titles or business titles on company officials as a means of identifying their function in the organization. In addition, many non-profit organizations, educational institutions, partnerships, and sole proprietorships also assign titles of the same nature. Common corporate titles, such as Chief Executive Officer (CEO), Chairman of the Board, and President, are often used interchangeably.
There are considerable variations in the hierarchical structure of companies. For instance, some corporations have a Chairman and CEO for a chief administrator, while the number two is the President and Chief Operating Officer (COO); other companies, however, have a President and CEO with no official deputy. Executive Vice President is commonly used as the title for a division head. However, this position can also be referred to as Vice Chairman, or even President and CEO of the division, depending upon the corporation’s structure. Corporate titles are sometimes given more for prestige than out of any differentiation in job function. For example, Roy E. Disney, who is a former director of The Walt Disney Company, is now the Director Emeritus of the board. The position holds no real influence but shows great respect to the Disney Legend.
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This glossary post was last updated: 19th April, 2020 | 2 Views.