Definition of CEO
The term CEO is an acronym in English that stands for “Chief Executive Officer,” and it refers to the top leader of a company.
They are in charge of making strategic decisions to achieve the organization’s objectives, and their responsibility is to ensure the long-term success of the company.
SYNONYMS FOR CEO
- General Manager
- Executive President
- Managing Director
- Executive Director
- CEO (the acronym itself)
ORIGIN OF CEO
The term CEO originated in the United States in the 1970s, when large corporations began to adopt a more complex hierarchical structure.
It was then that the CEO position was introduced, which replaced the previously known position of company president.
The CEO’s function is the same as that of the president, but with a more focused approach on business management and strategic decision-making.
CURIOSITIES OF CEO
- The youngest CEO in history was Mark Zuckerberg, founder of Facebook, who assumed the position at the age of 23.
- The highest-paid CEO in the world in 2021 was Elon Musk, founder of SpaceX and Tesla, who earned over 36 billion dollars.
- In some companies, the CEO may also be the Chairman of the Board.
- Hiring a CEO is one of the most important decisions a company can make, as the chosen person will have a great impact on the corporate culture and profitability of the organization.
- Sometimes, the CEO position may be subject to criticism, as they may be accused of making decisions that favor shareholders over workers or society as a whole.