Officers of a company, their rights and obligations

Июль 27, 2022

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Officers of a company, their rights and obligations

Содержание

2. A company is a business association which has the character of a legal person, distinct from
5. Board of Directors
6. The board is responsible for Protecting shareholders’ interests : Establishing policies for management Oversight of the
7. Functions of a Board of Directors: In a broad sense, a corporate board of directors acts
8. * Creating dividend policies * Creating options policies * Hiring and firing of senior of executives
9. How many directors in the board of directors A minimum of three directors in the case
10. Who Officers Are? Officers typically include high-level management. They are appointed by the Board to Directors
11. REMEMBER! In many corporations, there's no difference between an officer and an employee. However, company officers
12. Some of the most popular types of officers of a company are: Chief Executive Officer (CEO)
13. Chief financial officer (CFO) is a senior financial executive with responsibility for the financial affairs of
14. Chief Marketing Officer (CMO) is a senior marketing executive who is involved in a wide variety
15. Keep in mind that in smaller company, one person may serve as the business's sole director,
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A company is a business association which has the character of

a legal person, distinct from its officers and shareholders.

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Board of Directors

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The board is responsible for
Protecting shareholders’ interests :

Establishing policies for management
Oversight of the corporation or organization
And making decisions about important issues a company or organization faces

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Functions of a Board of Directors:
In a broad sense, a

corporate board of directors acts as a fiduciary for shareholders. The board is also tasked with a number of other responsibilities, including the following:

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* Creating dividend policies
* Creating options policies
* Hiring

and firing of senior of executives (especially the CEO)
* Establishing compensation for executives
* Supporting executives and their teams
* Maintaining company resources
* Setting general company goals
* Making sure that the company is equipped with the tools it needs to be managed well

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How many directors in the board of directors
A minimum of

three directors in the case of a Limited Company

Two directors in the case of a Private Limited Company
One director in the case of a One Person Company

How many directors in the board of directors?

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Who Officers Are?
Officers typically include high-level management.
They are appointed by the

Board to Directors to hold various top level roles and responsibilities within the company.
Despite of their high statuses, they could be fired or replaced by company directors.

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REMEMBER!
In many corporations, there's no difference between an officer and an

employee. However, company officers have more authority than engineers and secretaries.
Some officers don't qualify as employees, but they're the exception.
Getting the difference wrong can land a company in legal or tax trouble.

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Some of the most popular types of officers of a company are:
Chief

Executive Officer (CEO) is the highest-ranking person in a company who is responsible for taking managerial decisions for the day to day operation of the company.
Chief Operating Officer (COO) is a senior executive who oversees ongoing business operations within the company. COO reports to the CEO and is usually second-in-command within the company.

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Chief financial officer (CFO) is a senior financial executive with responsibility

for the financial affairs of a company, such as planning, budgeting, bookkeeping, accounting, setting up of internal controls and so on...
Chief Technology Officer (CTO) is a senior technology executive who oversees current technology development and maintenance aspects, for example, managing technology development, maintaining technology assets and create technology policies.

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Chief Marketing Officer (CMO) is a senior marketing executive who is involved

in a wide variety of tasks like increasing revenue, improving brand image and managing marketing campaigns.
Chief Legal Officer (CLO) is a senior legal executive who helps the company reduce its legal risks by advising the company and its employees on major legal and regulatory issues and manage litigation risks.

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