Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. Although there may be more than one CEO in a company, generally the job is not shared anymore. It is feared that such an arrangement may create confusion within the organization about who is ultimately in charge. All other management reports to the Executive Officer.
The CEO usually reports to, and is a member of, the company's board of directors. The CEO may also be the chairman of the board or the company president in small businesses, but these roles are often separated in larger organizations, to prevent the company from becoming dominated by a single personality, and to prevent a conflict of interest against the owners (the shareholders).
In the United States this is a title used by the highest authority within most businesses, regardless of their actual size. In other English speaking countries (most notably countries in the Commonwealth of Nations) the term is used mainly in publicly traded corporations, and in privately held companies the term Managing Director is much more common.
By comparision of CEO with CFO as strategic business partner and statutory duties under SEC and Sarbanes-Oxley Act, both are equal ranking top executive and separate posts. For larger corporations, CEOs and CFOs often hold MBAs or JDs.
A chief executiveofficer (CEO), or chief executive, is the highest-ranking corporateofficer or executiveofficer of a corporation, or agency.
Regardless, in virtually all cases where the CEO and president are not the same person, the CEO is of the higher rank and ultimate authority.
Qualified CEOs of corporations should have leadership skills and be able to act decisively regarding human, financial, environmental and technical challenges that face a corporation.
Elisa Corporation has a Chief ExecutiveOfficer, whose task is to engage in the everyday administration of the company in accordance with instructions and orders from the Board of Directors and the Finnish Companies Act.
Should the contract be terminated by Elisa, the Chief ExecutiveOfficer is entitled to receive a severance payment equalling the total salary of 24 months minus his salary of the period of notice.
Elisaâs CEO is entitled to retire after the age of 60 on a total pension at the statutory rate of 60 percent of his/her pensionable salary.
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