What is executive management?
The executive management refers to the top managers of all the different departments of a company. Usually the executive management includes the general manager, the sales and marketing manager, the human resources and administration manager and other more specialized managers, depending on the profile of the company. It is a high profile job in a leadership position, very well paid but associated with equally strong responsibilities. Executive managers are the ones that make a company run and be successful, and they are responsible for any downfall. They make all the important decision regarding the company, and they come up with the general strategies and policies. Executive managers coordinate large teams of people of different professions and expertise levels in offering the best product and services to the targeted clients.
Types of executive managers
The managers of different departments and branches form the Board of Directors of a company and the Chief Executive Officer, or CEO implements the Board's decisions. CEOs have the most extensive power and responsibility in a company, reflected in the daily activities, as well as in the long-term strategies and procedures. They are assisted by the Executive Committee in performing all their tasks and duties and they are the principal public representatives of the company, especially in matters related to the board of directors or the shareholders.
The Executive Committee is formed of the president, vice-president of a company, the chief financial officer, the chief investment officer and other more specialized functions in the sectors of employees, strategy, sustainability, projects, customer, information, commerce, resources and so on. All these professionals are in charge of every single aspect of the company's business, so that together they bring the best possible expertise. They work with lower rank managers in order to implement all of the Board's decisions.
The president can be, but is not always, the same with the CEO. When the functions differ, the president is in charge with more administrative daily activities and tactics and he or she is assisted by the vice-president. If a corporation has more subdivisions, it is very likely to have more presidents and corresponding chief officers for every single division.
The chief financial officer has a very important role in the company, in analyzing and deciding upon financial aspects of the business. The CFOs have to assess the financial power of their company and to make sure that all the financial operations are in order. Lately, there has been an increase in the financial disclosure demand of the society, so CFOs have a very important task that of maintaining the company's image.
The chief investment officer is in charge with the overall investments of the company. They design and implement investment strategies and take care of the company's investors and shareholders. Last, but not least, every board of directors has a chairperson of the board, the most important intermediary between the executive managers and the shareholders of the company.
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