What is a Chairman versus a President?

In small companies, often the same individual serves as the chairman and the president.  The president, commonly also referred to as the chief executive officer, is the top executive in a company responsible for managing a company’s operations and performance.  She is the leader of the firm and is responsible for implementing corporate policy as established by the board of directors.

The chairman is the highest ranking officer in the board of directors, and is often selected for this leadership role by the board either by election or appointment.  The chairman presides over the board meetings, but may or may not have actual executive authority.