They make decisions to ensure that activities are carried out to benefit the business. From title to responsibility, level of power, and to whom they report, CEOs and presidents provide different value within corporations. Here we will define their titles and all the relevant information. The president, on the other hand, will focus on financial management and will work on implementing the strategies created by the CEO in the best way possible. Simply put, the CEO focuses on wealth maximisation and strives for sustainability, while the president focuses on revenue maximisation and internal growth.
The CEO is often a member of the board and may even be its chair. The corporate governance structure can vary from business to business. In startups or smaller companies, there might not be a need for a COO, CFO, or CIO. Instead, the CEO might take responsibility for the day-to-day issues that arise. If a non-profit has a president, they are often the head of the organization.
Key Differences Between a CEO and a President
Nevertheless, they work together to make the most important decisions in the company. The President takes the CEO’s vision and implements it in practice. In addition to that, they also take the company strategy and help execute it with the help of different departments in the company. This involves setting goals and tasks for each department separately and consulting the Board of Directors to execute their vision as well. The structure in non-profit organizations can be even more peculiar. Depending on their size, non-profits might not even need a President .
- In small businesses, the president might also be the owner of the company.
- Therefore, you can set your schedule as you wish and study wherever you want.
- The CEO has to be able to create new opportunities for their company, predict market changes, and create plans on how to adapt to them and truly understand their stakeholders’ interests.
- In partnerships, a managing director often serves as the top executive.
- The role and responsibilities of the CEO are not fixed but vary from company to company depending on the size and the overall structure.
The President typically reports to the CEO, who will be responsible for the strategic direction of the organization. The pay, benefits, and other perks for each position vary significantly. The President, on the other hand, generally has a more limited scope of authority. They may be responsible for specific areas such as marketing, finance, human resources, or operations.
What is a CEO of a company?
The CEO can also appoint additional tasks that the President or the COO must perform along with the ones they already have. Regardless of which role you may see yourself in, you’ll have to have formal knowledge about business. As the public face of the company, the CEO is what is a ceo vs president often responsible to make sales pitches to high-profile customers and partners. They take part in community events and charitable projects to promote the overall publicity of the brand. If there is no Chief Operating Officer , then the president is second in command.
Executives and other leaders—collectively known as upper management—hold the primary decision-making power in a company. Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. If you need help with CEO vs President, you can post your legal need on UpCounsel’s marketplace.