The CEO is the Chief Executive Officer of a corporation. He the executive figurehead, typically responsible for all organization of the company. He or she answers only to the board of directors/trustees, and usually oversees the other Executive officers, including CIO, CFO, any presidents, etc. There are no rules against holding more than one position at the same time.
Many states only require a one-man board to incorporate (Delaware being the most important). This means that the CEO or President is the only man needed to form a corporation. In most one-man boards, the title of CEO is chosen by the sole member (as it is the only one made provision for in law (i believe). By doing so, under above said rules, this makes him or her the Chairman of the Board by default. He or she is not by law given any default power over the corporation, but oftentimes CEOs are also the President, which is how is getting past that works.
In new corporations, CEOs are supposed to spend most of the time representing the company and recruiting for the new organization. |
