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Thank you for addressing your question to me. CEO is abbreviation of Chief Executive Officer. However the roles and responsibilities would vary from the constitution and type of organisation. Generally it is perceived the CEO is the highest ranking executive in a company whose main responsibilities include developing and implementing high-level strategies, making major corporate decisions, managing the overall operations and resources of a company, and acting as the main point of communication between the board of directors and the corporate operations. The CEO will often have a position on the board, and in some cases is even the chair.
In professional terms CEO is responsible to organise the entire company operations to achieve the promoters vision or goals.
He is expected to lead teams comprising of Administration, Finance, Marketing and legal departments. All the business would normally report to him and he reports to the Board or the promoter.
Responsibilities of the CEO include most importantly:
To draft the Company's income and expenditure budget at least two (2) months before the beginning of the fiscal year and submit it to the Company's board for approval.
To submit to the Company's Board the necessary proposals and suggestions as to fulfil the Company's objectives as provided for in Article2 of the Articles of Association.
To draft the Company's annual report within three (3) months from the end of every fiscal year.
To execute the decisions of the Board.
To draft contracts of a financial nature up to the value defined by a board decision.
To initiate to the board on all items on the agenda, with the additional capacity of initiating issues outside the agenda for decision making, in accordance to the ordinances of the law and the Company's statutes.
To monitor the Company's daily operations, as well as to supervise the undertakings of each of its operational units and organizational sectors, as well as the discharge of duties of the Company's employees in all areas.
The CEO may transfer a part of his/her competences stipulated by the law and the Company's Articles of Association to other members of the board, the executive directors, managers or other company employees.
The CEO drafts a contract of employment with the Company. The duration of the contract, the remuneration, as well as the general employment terms of the CEO are determined upon the decision of the Company's Board of Directors and approved in accordance to article23a of Codified Law2190/1920, as in force, by a General Meeting decision. In any case, the duration of the Chief Executive's contract cannot exceed four (4) years.
When absent or incapable to attend the CEO shall be replaced by the Chairman of the Board, provided that the function of Chief Executive does not coincide with being Chairman of the Board; in any other case, by a person appointed by the Board, following a suggestion of the CEO.
If the relationship of the Chief Executive with the Company is terminated on any grounds, the board decides upon filling-in the position until a replacement is selected.
The responsibilities of an organization's CEO or MD are set by the organization's board of directors or other authority, depending on the organization's legal structure. They can be far-reaching or quite limited and are typically enshrined in a formal delegation of authority.
Typically, the CEO/MD has responsibilities as a director, decision maker, leader, manager and executor. The communicator role can involve the press and the rest of the outside world, as well as the organization's management and employees; the decision-making role involves high-level decisions about policy and strategy. As a leader of the company, the CEO/MD advises the board of directors, motivates employees, and drives change within the organization. As a manager, the CEO/MD presides over the organization's day-to-day operations.
An owner of a Business, registered as Sole Proprietorship / Proprietorship can be called a CEO.
I am totaly agree with Mr. PRADEEP MEHRA
Agree with the members
I BELEIVE THIS IS A Chief Execcutive officer
AGREE WITH
Mr: ODAI JADDO
I totally agree with Mr. Mehra. Also I can add one more thing that CEO should implement & support is the Innovation environmet/system which covers all business unit within his company. This will generates creative/valuable ideas to generate more profits & productivites & to inhance the company image.
