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There are three tiers of power in a corporation: the shareholders are the owners of the company; the directors run the company and are responsible for the its overall management; and the officers handle the day-to-day matters of the company as well as carry out the directors’ decisions and policies.
The appointing of officers is done by the Board of Directors of the company. The most notable officer titles are President, Vice President, Secretary and Treasurer. However, if required, the board can appoint other officers, such as a Chief Executive Officer (CEO), Chief Financial Officer (CFO), Chief Technology Officer (CTO), managers or any other title the board wishes to create.
Let’s first discuss what it takes to be the President of a company. The person who is President of a company is in the highest position within an organization and, in some cases, takes on the title of Chief Executive Officer as well. The President/CEO is often (but not always) the founder and owner of the business.
In addition, he or she:
While these are general terms of a corporate President’s duties, they may differ in individual organizations. Here you can find more information on the General Corporation. Stay tuned for my next blog on the role and responsibility of the Vice President of a corporation.
*Disclaimer*: Harvard Business Services, Inc. is neither a law firm nor an accounting firm and, even in cases where the author is an attorney, or a tax professional, nothing in this article constitutes legal or tax advice. This article provides general commentary on, and analysis of, the subject addressed. We strongly advise that you consult an attorney or tax professional to receive legal or tax guidance tailored to your specific circumstances. Any action taken or not taken based on this article is at your own risk. If an article cites or provides a link to third-party sources or websites, Harvard Business Services, Inc. is not responsible for and makes no representations regarding such source’s content or accuracy. Opinions expressed in this article do not necessarily reflect those of Harvard Business Services, Inc.
There are 3 comments left for What Is The Role of a President of a Corporation?tasheena said: Monday, October 28, 2019
does the president interview the employees often or not at all?HBS Staff replied: Monday, October 28, 2019
This will vary form company to company. In a new company, the President may be the founder and only employee, so he or she would likely interview any new candidates. In a larger company, the President may not be involved with interviews very much at all.PY said: Wednesday, April 25, 2018
Can there be 2 co-corporate secretaries? with similar powers? or a secretary and an under-secretary acting only when the secretary is absent for example?HBS Staff replied: Wednesday, April 25, 2018
Typically, the roles and titles are specified internally in thecompany's bylaws, so it is more or less up to the company.Ben said: Monday, April 9, 2018
Can the duty of the President conflict with the Chairman?HBS Staff replied: Monday, April 9, 2018
No, typically the President handles all the day to day matters and works alongside the Chairman to efficiently run the business.