Fact of the Day

Presidents and CEOs


There is a a legal difference and a functional difference between a president and CEO of a company. Legally, each state requires corporations to have presidents. Most also require two to three other officers, such as vice president, secretary and treasurer, each of which has specific duties. Legally, the president of a corporation is the head of the corporation for corporate registration purposes. There is no uniform legal definition for CEO. Functionally, the differences between Presidents and CEOs vary in different corporations. Many smaller corporations do not have CEOs; the president or other managers perform the management functions of the CEO. CEOs are generally seen in larger corporations. The CEO manages day-to-day operations while the President does long-range planning. It is the same distinction that is made in the military between strategy (the president) and tactics (the CEO), or planning what to do versus figuring out how to do it and getting it done. Many corpor ations have their own definitions for what each person does. There may be a powerful CEO and a figurehead President or a President who manages many day-to-day operations and a CEO who only takes care of manufacturing. There are no uniform definitions other than the legal one for the president as the head corporate officer. You will also see many times these days that one person is given both titles.

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