ROLE OF CHAIRMAN vs CEO

Michael Tait discusses the role of the Chairman vs CEO.

A chairman and CEO are two distinct roles in a company or organisation. The chairman is typically the head of the board of directors, responsible for overseeing the board’s work, ensuring that the organisation is adhering to its strategic objectives, and providing guidance to the CEO. The CEO, on the other hand, is the top executive of the organisation, responsible for the day-to-day management of the company and implementing the board’s strategies.

The CEO is accountable to the board as a whole and works through the chairman, whereas the chairman is accountable to the company’s shareholders and stakeholders. The chairman’s role is more focused on governance, ensuring that the board is functioning effectively, and overseeing the CEO’s performance, while the CEO’s role is more focused on operations, making key business decisions, and executing the company’s strategy.

The role of Chairman vs CEO can be more closely compared:

The role of the chairman can vary depending on the organisation, but generally, the chairman is the head of the board of directors or governing body of an organisation. The chairman is responsible for overseeing the board’s work, ensuring that the board is functioning effectively and making decisions that are in the best interest of the organisation and its stakeholders.

Some specific roles and responsibilities of a chairman may include:

1. Leading board meetings: The chairman is responsible for presiding over board meetings, setting the agenda, and ensuring that the board is making decisions that align with the organisation’s strategy and objectives.

2. Providing guidance and support to the CEO: The chairman often works closely with the CEO to provide guidance and support and to ensure that the CEO is effectively executing the organisation’s strategy.

3. Facilitating communication and collaboration: The chairman is responsible for ensuring that the board is communicating effectively with other stakeholders, including shareholders, employees, and customers, and collaborating with other organisations or individuals as necessary.

4. Ensuring compliance: The chairman is responsible for ensuring that the organisation is complying with all relevant laws and regulations.

5. Building relationships: The chairman may also be responsible for building relationships with key stakeholders, including shareholders, government officials, and community leaders.

6. Overall, the chairman plays a critical role in ensuring that the board is functioning effectively and that the organisation is meeting its objectives and goals. The chairman’s role is focused on governance and providing strategic oversight and guidance to the organisation.

Role of the CEO

The CEO, or Chief Executive Officer, is the top executive of a company or organisation and is responsible for its overall management and direction. The role of the CEO varies depending on the organisation, but some common responsibilities include:

1. Developing and implementing the organisation’s strategy: The CEO is responsible for setting the strategic direction of the company and ensuring that it is aligned with the organisation’s mission, vision, and values.

2. Making key business decisions: The CEO is responsible for making important decisions about the company’s operations, including financial decisions, investments, and partnerships.

3. Managing the organisation’s resources: The CEO is responsible for managing the company’s resources, including its people, finances, and assets, and ensuring that they are being used effectively.

4. Building and leading a strong team: The CEO is responsible for building a strong team of executives and employees who can execute the organisation’s strategy and achieve its goals.

5. Representing the organisation: The CEO is often the public face of the organisation and is responsible for representing the company to shareholders, customers, partners, and other stakeholders.

6. Ensuring compliance: The CEO is responsible for ensuring that the organisation is complying with all relevant laws and regulations.

THE CHAIRMAN AND CEO RELATIONSHIP

THE DIFFERENCES IN THE ROLE OF CHAIRMAN AND CHIEF EXECUTIVE

Chairman v CEO INDEED