Chief Executive Officer (CEO)

A chief executive officer (CEO) has responsibility for developing and implementing a strategic plan to achieve goals and objectives of the corporation. The corporation's board of directors selects and oversees the CEO and the executive team. Historically, the majority of U.S. CEOs have also been the chairman of the board, although this practice has diminished in recent years. In publicly held organizations, shareholders elect the board of directors.

The functions of the CEO include figurehead, spokesperson, leader, resource allocator, monitor, liaison with outside groups, disseminator of information to internal stakeholders, crisis manager, entrepreneur, and negotiator. All these functions involve managing various stakeholders. The following sections describe planning, reporting, and behavioral imperatives that CEOs face.