Chairman of the Board

Member of a corporation's board of directors who presides over its meetings and who is the highest ranking officer in the corporation. The chairman of the board may or may not have the most actual executive authority in a firm. The additional title of Chief Executive Officer (CEO) is reserved for the principal executive, and depending on the particular firm, that title may be held by the chairman, the president, or even an executive vice president. In some corporations, the position of chairman is either a prestigious reward for a past president or an honorary position for a prominent person, a large stockholder, or a family member; it may carry little or no real power in terms of policy or operating decision making.

Member of a corporation's board of directors who presides over its meetings and who is the highest ranking officer in the corporation. The chairman of the board may or may not have the most actual executive authority in a firm. The additional title of Chief Executive Officer is reserved for the principal executive.