What Is Chief Executive Officer (CEO)?
A chief executive officer (CEO) is the highest-ranking executive in a company, whose primary responsibilities include making major corporate decisions, managing the overall operations and resources of a company, acting as the main point of communication between the board of directors (the board) and corporate operations and being the public face of the company. A CEO is elected by the board and its shareholders.
The Chief Executive Officer reports directly to and is accountable to, the Board of Directors for the performance of a company. The Board of Directors (BoD) is a group of individuals who are elected to represent the shareholders of the company. The CEO often sits on the board and, in some cases, she or he is the chairperson.
Typically, the CEO is responsible for the following items:
- Managerial decisions
- Operations and performance
- Company resources, and sometimes tools
- Communications with the board of directors
- Implementation of short- and long-term plans
- Addressing the needs of employees, customers, investors, communities and the law.
CEO Duties & Responsibilities
The job duties of a Chief Executive Officer (CEO) in a company or organization vary depending on the organization’s mission, product, goals, and operational needs to stay profitable. Duties also vary depending on the size of the organization and the number of employees, among other factors. In general, these responsibilities include:
- Creating, communicating, and implementing the organization’s vision, mission, and overall direction.
- Leading the development and implementation of the overall organization’s strategy.
- Soliciting advice and guidance, when appropriate, from a Board of Directors
- Formulating and implementing the strategic plan that guides the direction of the business or organization.
- Overseeing the complete operation of an organization by the direction established in the strategic…