The CEO is the person who is ultimately accountable for a company's business decisions, including those in operations, marketing, business development, finance, human resources, etc. As a manager, the CEO presides over the organization's day-to-day operations. The CEO is tasked with implementing the goals, targets and strategic objectives as determined by the board of directors.Īs an executive officer of the company, the CEO reports the status of the business to the board of directors, motivates employees, and drives change within the organization. The communicator role can involve speaking to the press and to the public, as well as to the organization's management and employees the decision-making role involves high-level decisions about policy and strategy. Typically, responsibilities include being an active decision-maker on business strategy and other key policy issues, leader, manager, and executor. They can be far-reaching or quite limited, and are typically enshrined in a formal delegation of authority regarding business administration. The responsibilities of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's structure. The first American usage cited is from 1972.
In draft additions to the Oxford English Dictionary published online in 2011, the Dictionary says that the use of "CEO" as an acronym for a chief executive officer originated in Australia, with the first attestation being in 1914. The term "chief executive officer" is attested as early as 1782, when an ordinance of the Congress of the Confederation used the term to refer to governors and other leaders of the executive branches of each of the Thirteen Colonies. CEOs are also frequently assigned the role of main manager of the organization and the highest-ranking officer in the C-suite. In the non-profit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation. The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the business, which may include maximizing the share price, market share, revenues or another element. For other uses, see Chief executive (disambiguation) and CEO (disambiguation).Ī chief executive officer ( CEO) (also known as a central executive officer, or just chief executive (CE), or as managing director (MD) in the UK) is the highest officer charged with the management of an organization – especially an independent legal entity such as a company or nonprofit institution.ĬEOs find roles in a range of organizations, including public and private corporations, non-profit organizations and even some government organizations (notably state-owned enterprises). "Chief executive" and "CEO" redirect here.
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