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The evolving CIO role: From IT operator to business strategist
DEFINITION
What is a CEO (chief executive officer)?
Cameron Hashemi-Pour, Site Editor
Tom Gambardella, Editorial Assistant
Ron Karjian, Industry Editor
A chief executive officer (CEO) is the highest-ranking position in an organization and responsible for implementing plans and policies related to a company’s financial strength, operational efficiency, business transformation and strategic management.
The CEO is ultimately responsible for the company’s success or failure. They oversee its various functions, including operations, finance, marketing, sales, human resources (HR), legal, compliance and IT. They do all this while balancing the needs of employees, customers, investors and other stakeholders.
The CEO title most often applies to for-profit businesses whose size, in terms of employee numbers or revenue, justifies this top position. Some nonprofit organizations also choose to have their most senior person hold the CEO title.
In some cases, business laws require the use of the CEO title. Corporations, by law, must have CEOs, other chief officers and boards of directors. A limited liability company can structure itself like a corporation and have a CEO, but the role isn’t required by law. Other types of businesses and nonprofits have their top executive fulfill the duties of a CEO but use titles such as president or executive director.
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