CEO stands for Chief Executive Officer, who determines and formulates policies and provide overall direction of companies or private and public sector organizations within guidelines set up by a board of directors or similar governing body.
The average salary of a chief executive is $193,850 as of May 2019.
These professionals plan, direct, or coordinate operational activities at the highest level of management with the help of subordinate executives and staff managers. This is an enterprising job that appeals to the ENTJ personality type.
Other Job Titles for CEO
Depending on the organization, a CEO may have subordinate executives, an administration to help run the day-to-day business of the compan. Each senior executive officer has specific functional responsibilities These professionals are also called executive officers or corporate officers.
Subordinate executives are given different titles in different organizations, many times they are given the title of vice president along with their area of responsibility. Examples of subordinate executive officers who typically report to the CEO include the following:
- Chief Diversity Officer CDO
- Chief Executive Officer CEO
- Chief Financial Officer CFO
- Chief Nursing Officer
- Chief Operating Officer COO
- Executive Director
- Executive Vice President EVP
- Operations Vice President
- Sales Managers
- Treasurers and Controllers
- Purchasing Managers
- Transportation, Storage and Distribution Managers
- Supply Chain Managers
- Training and Development Managers
- Medical and Health Services Managers
How to Become CEO
There are two ways to become a CEO. One is the simplest — start your own company. You would be the CEO.
The other way to become CEO is to work your way up the career ladder in an established company. CEOs generally have a graduate level education and years if not decades of experience with increasing job responsibilities. They often become part of the administrative team with a focus on finance, operations or a central function within the company.
Sometimes a child or other family member of a chief executive inherits the role when the CEO retires.
CEO vs President
The CEO is the highest-ranking executive at any given company. They can also be on the board of directors and may serve as chairman of the board.
The board of directors is elected by the shareholders of a company and is usually a mix of people who work for the company and who do not.
The board oversees corporate management policies and the CEO is tasked with including the board’s recommendations into the company’s operations.
A president can mean the big boss, but it typically refers to someone who is in charge of a certain section of a large company, i.e. President of U.S. Operations.
In small businesses, the president might also be the owner of the company. If there is a CEO, the president would be second in-command.
Chief Executive Job Duties and Resume Keywords
- Administer programs for selection of sites, construction of buildings, or provision of equipment or supplies.
- Analyze operations to evaluate performance of a company or its staff in meeting objectives or to determine areas of potential cost reduction, program improvement, or policy change.
- Appoint department heads or managers and assign or delegate responsibilities to them.
- Attend and participate in meetings of municipal councils or council committees.
- Conduct or direct investigations or hearings to resolve complaints or violations of laws, or testify at such hearings.
- Confer with board members, organization officials, or staff members to discuss issues, coordinate activities, or resolve problems.
- Coordinate the development or implementation of budgetary control systems, recordkeeping systems, or other administrative control processes.
- Deliver speeches, write articles, or present information at meetings or conventions to promote services, exchange ideas, or accomplish objectives.
- Direct human resources activities, including the approval of human resource plans or activities, the selection of directors or other high-level staff, or establishment or organization of major departments.
- Direct non-merchandising departments, such as advertising, purchasing, credit, or accounting.
- Direct or conduct studies or research on issues affecting areas of responsibility.
- Direct or coordinate activities of businesses involved with buying or selling investment products or financial services.
- Direct or coordinate activities of businesses or departments concerned with production, pricing, sales, or distribution of products.
- Direct or coordinate an organization’s financial or budget activities to fund operations, maximize investments, or increase efficiency.
- Direct, plan, or implement policies, objectives, or activities of organizations or businesses to ensure continuing operations, to maximize returns on investments, or to increase productivity.
- Establish departmental responsibilities and coordinate functions among departments and sites.
- Implement corrective action plans to solve organizational or departmental problems.
- Interpret and explain policies, rules, regulations, or laws to organizations, government or corporate officials, or individuals.Make presentations to legislative or other government committees regarding policies, programs, or budgets.
- Negotiate or approve contracts or agreements with suppliers, distributors, federal or state agencies, or other organizational entities.Nominate citizens to boards or commissions.
- Organize or approve promotional campaigns.Prepare budgets for approval, including those for funding or implementation of programs.
- Prepare bylaws approved by elected officials, and ensure that bylaws are enforced.
- Prepare or present reports concerning activities, expenses, budgets, government statutes or rulings, or other items affecting businesses or program services.Preside over, or serve on, boards of directors, management committees, or other governing boards.
- Refer major policy matters to elected representatives for final decisions.Represent organizations or promote their objectives at official functions, or delegate representatives to do so.
- Review and analyze legislation, laws, or public policy and recommend changes to promote or support interests of the general population or special groups.
- Review reports submitted by staff members to recommend approval or to suggest changes.Serve as liaisons between organizations, shareholders, and outside organizations.
Detailed Work Activities
- Advise others on legal or regulatory compliance matters.
- Analyze data to assess operational or project effectiveness.
- Analyze data to inform operational decisions or activities.
- Analyze impact of legal or regulatory changes.
- Communicate organizational policies and procedures.
- Confer with organizational members to accomplish work activities.
- Coordinate special events or programs.
- Coordinate with external parties to exchange information.
- Develop organizational policies or programs.
- Direct administrative or support services.
- Direct financial operations.
- Direct organizational operations, projects, or services.
- Direct sales, marketing, or customer service activities.
- Draft legislation or regulations.
- Implement organizational process or policy changes.
- Liaise between departments or other groups to improve function or communication.
- Manage construction activities.
- Manage human resources activities.
- Negotiate contracts for transportation, distribution, or logistics services.
- Prepare financial documents, reports, or budgets.
- Prepare operational budgets.
- Prepare operational progress or status reports.
- Prepare staff schedules or work assignments.
- Present information to the public.
- Promote products, services, or programs.
- Represent the organization in external relations.
- Resolve employee or contractor problems.
Christopher Kempczinski is the president and chief executive officer of McDonald’s Corporation. He has served in the role for about a year following the firing of Steve Easterbrook, who was accused of violating company policies after he became involved with an employee.
Reed Hastings is one of the founders and now co-chief executive officer and chairman, of Netflix. He and Mark Randolph founded Netflix in 1997. Ted Sarandos is co-CEO and Chief Content Officer for the video streaming service. He joined Netflix in 2000 and was named co-CEO in July 2020.
Niraj S. Shah is the co-founder, co-chairman, and CEO of online retailer Wayfair.He co-founded Wayfair with Steve Conine in 2002. The home furnishings has grown into a multibillion dollar company that generated $13 billion in net revenue for the twelve months ending Sept. 30, 2020.
Wells Fargo CEO
Charlie Scharf serves as president and CEO of Wells Fargo. He was previously the CEO of Visa Inc. and BNY Mellon, and has been an independent director on the Microsoft board of directors since 2014.
Satya Narayana Nadella is the chief executive officer of Microsoft, succeeding Steve Ballmer in 2014. Before becoming CEO, he was the executive vice president of Microsoft’s cloud and enterprise group, responsible for building and running the company’s computing platforms.