Chief executive officer
The chief executive officer or just chief executive, is the most senior corporate, executive, or administrative officer in charge of managing an organization – an independent legal entity such as a company or nonprofit institution. CEOs lead a range of organizations, including public and private corporations, non-profit organizations and some government organizations; the CEO of a corporation or company reports to the board of directors and is charged with maximizing the value of the entity, which may include maximizing the share price, market share, revenues or another element. In the non-profit and government sector, CEOs aim at achieving outcomes related to the organization's mission, such as reducing poverty, increasing literacy, etc. In the early 21st century, top executives had technical degrees in science, engineering or law; the responsibility of an organization's CEO 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 enshrined in a formal delegation of authority. Responsibilities include being a decision maker on strategy and other key policy issues, leader and executor; the communicator role can involve speaking to the press and the rest of the outside world, as well as to the organization's management and employees. As a leader of the company, the CEO or MD advises the board of directors, motivates employees, drives change within the organization; as a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who makes all the key decisions regarding the company, which includes all sectors and fields of the business, including operations, business development, human resources, etc; the CEO of a company is not the owner of the company. In some countries, there is a dual board system with two separate boards, one executive board for the day-to-day business and one supervisory board for control purposes. In these countries, the CEO presides over the executive board and the chairman presides over the supervisory board, these two roles will always be held by different people.
This ensures a distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority; the aim is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors is equivalent to the supervisory board, while the executive board may be known as the executive committee. In the United States, in business, the executive officers are the top officers of a corporation, the chief executive officer being the best-known type; the definition varies. In the case of a sole proprietorship, an executive officer is the sole proprietor. In the case of a partnership, an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company, executive officer is any manager, or officer. A CEO has several subordinate executives, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers.
Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if the CEO is the president, is the vice-president. An organization may have more than one vice-president, each tasked with a different area of responsibility; some organizations have subordinate executive officers who have the word chief in their job title, such as chief operating officer, chief financial officer and chief technology officer. The public relations-focused position of chief reputation officer is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, the driving force behind, an organisation culture". In the US, the term chief executive officer is used in business, whereas the term executive director is used in the not-for-profit sector; these terms are mutually exclusive and refer to distinct legal duties and responsibilities.
Implicit in the use of these titles, is that the public not be misled and the general standard regarding their use be applied. In the UK, chief executive and chief executive officer are used in both business and the charitable sector; as of 2013, the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are non-executive roles. In the United Kingdom, the term director is used instead of chief officer". Business publicists since the days of Edward Bernays and his client John D. Rockefeller and more the corporate publicists for Henry Ford, promoted the concept of the "celebrity CEO". Business journalists have adopted this approach, which assumes that the corporate achievements in the arena of manufacturing, wer
The chairman is the highest officer of an organized group such as a board, a committee, or a deliberative assembly. The person holding the office is elected or appointed by the members of the group, the chairman presides over meetings of the assembled group and conducts its business in an orderly fashion. In some organizations, the chairman position is called president, in others, where a board appoints a president, the two different terms are used for distinctly different positions. Other terms sometimes used for the office and its holder include chair, chairwoman, presiding officer, moderator and convenor; the chairman of a parliamentary chamber is called the speaker. The term chair is sometimes used in lieu of chairman, in response to criticisms that using chairman is sexist, it is used today, has been used as a substitute for chairman since the middle of the 17th century, with its earliest citation in the Oxford English Dictionary dated 1658–1659, only four years after the first citation for chairman.
Major dictionaries state that the word derives from a person. A 1994 Canadian study found the Toronto Star newspaper referring to most presiding men as "chairman", to most presiding women as "chairperson" or as "chairwoman"; the Chronicle of Higher Education uses "chairman" for men and "chairperson" for women. An analysis of the British National Corpus found chairman used 1,142 times, chairperson 130 times and chairwoman 68 times; the National Association of Parliamentarians adopted a resolution in 1975 discouraging the use of “chairperson” and rescinded it in 2017. The Wall Street Journal, The New York Times and United Press International all use "chairwoman" or "chairman" when referring to women, forbid use of "chair" or of "chairperson" except in direct quotations. In World Schools Style debating, male chairs are called "Mr. Chairman" and female chairs are called "Madame Chair"; the FranklinCovey Style Guide for Business and Technical Communication, as well as the American Psychological Association style guide, advocate using "chair" or "chairperson", rather than "chairman".
The Oxford Dictionary of American Usage and Style suggests that the gender-neutral forms are gaining ground. It advocates using "chair" to refer both to women; the Telegraph style guide bans the use of both "Chair" and "Chairperson" on the basis that "Chairman" is correct English. The word chair can refer to the place from which the holder of the office presides, whether on a chair, at a lectern, or elsewhere. During meetings, the person presiding is said to be "in the chair" and is referred to as "the chair". Parliamentary procedure requires that members address the "chair" as "Mr. Chairman" rather than using a name – one of many customs intended to maintain the presiding officer's impartiality and to ensure an objective and impersonal approach. In the United States, the presiding officer of the lower house of a legislative body, such as the House of Representatives, is titled the Speaker, while the upper house, such as the Senate, is chaired by a President. In his 1992 State of the Union address, then-U.
S. President George H. W. Bush used "chairman" for men and "chair" for women. In the British music hall tradition, the Chairman was the master of ceremonies who announced the performances and was responsible for controlling any rowdy elements in the audience; the role was popularised on British TV in the 1960s and 1970s by Leonard Sachs, the Chairman on the variety show The Good Old Days."Chairman" as a quasi-title gained particular resonance when socialist states from 1917 onward shunned more traditional leadership labels and stressed the collective control of soviets by beginning to refer to executive figureheads as "Chairman of the X Committee". Vladimir Lenin, for example functioned as the head of Soviet Russia not as tsar or as president but in roles such as "Chairman of the Council of People's Commissars of the Russian SFSR". Note in particular the popular standard method for referring to Mao Zedong: "Chairman Mao". In addition to the administrative or executive duties in organizations, the chairman has the duties of presiding over meetings.
Such duties at meetings include: Calling the meeting to order Determining if a quorum is present Announcing the items on the order of business or agenda as they come up Recognition of members to have the floor Enforcing the rules of the group Putting questions to a vote Adjourning the meetingWhile presiding, the chairman should remain impartial and not interrupt a speaker if the speaker has the floor and is following the rules of the group. In committees or small boards, the chairman votes along with the other members. However, in assemblies or larger boards, the chairman should vote only when it can affect the result. At a meeting, the chairman only has one vote; the powers of the chairman vary across organizations. In some organizations the chairman has the authority to hire staff and make financial decisions, while in others the chairman only makes recommendations to a board of directors, still others the chairman has no executive powers and is a spokesman for the organization; the amount of power given to the chairman depends on the type of organization, its structure, the rules it has created for itself.
If the chairman exceeds the given authority, engages in misconduct, or fails to perform t
Institution of Engineering and Technology
The Institution of Engineering and Technology is a multidisciplinary professional engineering institution. The IET was formed in 2006 from two separate institutions: the Institution of Electrical Engineers, dating back to 1871, the Institution of Incorporated Engineers dating back to 1884, its worldwide membership is in excess of 168,000. The IET's main offices are in Savoy Place in London, England and at Michael Faraday House in Stevenage, England. In the United Kingdom, the IET has the authority to establish professional registration for the titles of Chartered Engineer, Incorporated Engineer, Engineering Technician, ICT Technician, as a licensed member institution of the Engineering Council; the IET is registered as a charity in England and Wales, in Scotland. Discussions started in 2004 between the IIE about merging to form a new institution. In September 2005, both institutions held votes of the members voted in favour; this merger needed government approval, so a petition was made to the Privy Council of the United Kingdom for a Supplemental Charter, to allow the creation of the new institution.
This was approved by the Privy Council on December 14, 2005, the new institution emerged on March 31, 2006. The Society of Telegraph Engineers was formed on May 17, 1871, it published the Journal of the Society of Telegraph Engineers from 1872 through 1880. Carl Wilhelm Siemens was first President of IEE in 1872. On December 22, 1880, the STE was renamed as the Society of Telegraph Engineers and of Electricians and, as part of this change, it renamed its journal the Journal of the Society of Telegraph Engineers and of Electricians and the Journal of the Society of Telegraph-Engineers and Electricians. Following a meeting of its Council on 10 November 1887, it was decided to adopt the name of the Institution of Electrical Engineers; the name of the Institution of Electrical Engineers remains engraved in the marble façade of its headquarters at Savoy Place. As part of this change, its Journal was renamed Journal of the Institution of Electrical Engineers in 1889, it kept this title through 1963.
In 1921, the Institution was Incorporated by royal charter and, following mergers with the Institution of Electronic and Radio Engineers in 1988 and the Institution of Manufacturing Engineers in 1990, it had a worldwide membership of around 120,000. The IEE represented the engineering profession, operated Professional Networks, had an educational role including the accreditation of degree courses and operated schemes to provide awards scholarships and prizes, it was well known for publication of the IEE Wiring Regulations which now continue to be written by the IET and to be published by the British Standards Institution as BS 7671. The IET hosts the archive for the Women's Engineering Society and it has provided office space for WES since 2005; the modern Institution of Incorporated Engineers traced its heritage to The Vulcanic Society, founded in 1884 and became the Junior Institution of Engineers in 1902, which became the Institution of General Technician Engineers in 1970. It changed its name in 1976 to the Institution of General Technician Engineers.
At this point it merged with the Institution of Technician Engineers in Mechanical Engineering and formed the Institution of Mechanical Incorporated Engineers in 1988. The Institution of Engineers in Charge, founded in 1895, was merged into the Institution of Mechanical Incorporated Engineers in 1990; the Institution of Electrical and Electronic Technician Engineers, the Society of Electronic and Radio Technicians, the Institute of Practitioners in Radio and Electronics merged in 1990 to form the Institution of Electronics and Electrical Incorporated Engineers. The IIE was formed in April 1998 by the merger of The Institution of Electronic and Electrical Incorporated Engineers, The Institution of Mechanical Incorporated Engineers, The Institute of Engineers and Technicians. In 1999 there was a further merger with The Institution of Incorporated Executive Engineers; the IIE had a worldwide membership of 40,000. The Institution of Manufacturing Engineers the Institution of Production Engineers, was founded following the initiative of one H. E. Honer who wrote to a technical periodical titled ‘Engineering Production’ suggesting that the time was ripe to form an institution for the specialised interests of engineers engaged in manufacture.
As a result of correspondence generated by this letter a meeting was held at Cannon Street Hotel in London on 26 February 1921. At this meeting it was decided to form the IProdE in order to; the term ‘production engineering’ came into use to describe the management of factory production techniques first developed by Henry Ford, which had expanded during the First World War. The IProdE was incorporated in 1931 and was granted its armorial bearings in 1937. From the outset the Institution operated through decentralised branches called local sections wherever a sufficient number of members existed; these local sections elected their own officers. Local sections held monthly meetings at which papers were discussed. Outstanding papers were published in the Instituti
Annual general meeting
An annual general meeting is a meeting of the general membership of an organization. These organizations include membership companies with shareholders; these meetings may be required by law or by the constitution, charter, or by-laws governing the body. The meetings are held to conduct business on behalf of the company. An organization may conduct its business at the annual general meeting; the business may include electing a board of directors, making important decisions regarding the organization, informing the members of previous and future activities. At this meeting, the shareholders and partners may receive copies of the company's accounts, review fiscal information for the past year, ask any questions regarding the directions the business will take in the future. At the annual general meeting, the president or chairman of the organization presides over the meeting and may give an overall status of the organization; the secretary may be asked to read important papers. The treasurer may present a financial report.
Other officers, the board of directors, committees may give their reports. Attending this meeting are the members or the shareholders of the organization, depending on the type of organization. At such meeting, the Company Secretary of the Company plays a crucial role in convening, to attend the meeting, he supported by his Corporate Secretarial team. Every state requires public companies incorporated within it to hold an annual general meeting of shareholders to elect the Board of Directors and transact other business that requires shareholder approval. Notice of the annual general meeting must be in writing and is subject to a minimum notice period that varies by state. In 2007, the Securities and Exchange Commission voted to require all public companies to make their annual meeting materials available online; the final rules required compliance by large accelerated filers beginning on January 1, 2008, by all other filers beginning on January 1, 2009 The "e-proxy" rules allow two methods for companies to deliver their proxy materials, the "notice only" option or the "full set" option.
Under the notice only option, the company must post all of its proxy materials on a publicly accessible website at the time In India, the Companies Act 2013 regulates the requirement to conduct an Annual meeting of the members to discuss the four ordinary businesses. As per section 96 of the Act, every Company requires to conduct such a meeting by served a notice of 21 days minimum length prior to the meeting either at the latest known address or email id of the members. However, a company may conduct such meeting through the issue of a notice of shorter length with prior approval of not less than 95 % of the members entitled to vote at such meeting; the Act mandates that such meeting shall be within prescribed time 9:00 am to 6:00 pm, to be not held on national holidays, to be conducted at the place/ town/ village where the registered office of the company situated. However, in the recent trends, as per the latest amendment notified by the Corporate Affairs ministry in India, the unlisted public companies may conduct such meeting in any part of India by taking in advance unanimous approval from all the members in writing or electronically.
The four business includes 1) Financial statement approval 2) Appointment of Director 3) Appointment & to fix the remuneration of statutory auditor 4) Declare the dividend In Great Britain it became optional with effect from 1 October 2007 for any private company to hold an AGM, unless its articles of association require it to do so. In India, the Companies Act 2013 regulates the requirement to conduct a meeting of its members have participation/ hold in the share capital of the company to meet on annual basis in a general meeting called Annual General Meeting within the prescribed time window of 9:00 am to 6:00 pm on other than national holidays to discuss some important business includes financial statements approval. Unlike the other countries, every Company incorporated in India require to conduct such meeting on or before the due date on the last day of the sixth month of every closing of the financial year. In India, the Act has been gone under major changes; the Corporate Affairs ministry has enforced a new amendment act'Companies 2nd Amendment Act 2017' from 26th January 2018.
It gives an option to conduct such meeting in any part of India. In Singapore, only public companies must hold AGMs. With effect from 31 August 2018, private limited companies can decide. Private companies can be exempted from holding AGMs if they send their financial statements to their members within five months after the financial year end. To dispense with AGMs, company members need to pass a resolution. All the shareholders must endorse the document for it to come into force. Having dispensed with AGMs, companies pass written resolutions on matters that would otherwise be discussed at AGMs. Financial statements are the principal subject; the resolution putting an end to AGMs may cease to be in force – members can adopt a new resolution to revoke the dispensation. In this case, an AGM must be held. If a private company decides to have AGMs, it must adhere to the deadlines; the annual general meeting must be held within 6 months after the FYE. Next, every company must lodge the obligatory annual return within 1 month after its AGM.
Convention Extraordinary general meeting Corporate law