Alexandoy
VIP Contributor
Let me share what I know of the standard setup of the corporate organization. The owners have their group called Board of Directors where members are voted by the owners (stockholders or shareholders). The directors elect the chairman from their group. The chairman is the highest position and he is the one who appoints the president. Sometimes the chairman can also be the president of the company.
The president is in charge of the operation. He is always answerable to the chairman and also to the board of directors. Sometimes the vice chairman is appointed as auditor or executive vice president to monitor the operation for assistance to the president.
Some companies may vary with position from president down to the lower positions. But the board of directors and its functions cannot be changed as per the law of the SEC – Securities and Exchange Commission.
The president is in charge of the operation. He is always answerable to the chairman and also to the board of directors. Sometimes the vice chairman is appointed as auditor or executive vice president to monitor the operation for assistance to the president.
Some companies may vary with position from president down to the lower positions. But the board of directors and its functions cannot be changed as per the law of the SEC – Securities and Exchange Commission.
