Corporation roles

Shareholders

• own a part of the company
• elector directors

Director

• in charge of the direction of the business
  • in the best interests of the shareholder
• hires officers
• when to issue shares
• adopt, amend and repeal by-laws
• major changes, outside of normal course of the business
• Annual meeting
  • is it mandatory????
• Board of directors
  • corporation must have at least one director

Officer

[!Can you have 0 officers?]

• executes the overall direction of the board
• appointed (not elected) by the board of directors
• CEO
  • highest-level person
  • longer term vision, strategy and focus
  • public-facing
  • can also be the President and Chairman of the board
• President
  • second highest-level person after the CEO
  • implement shorter term strategy and operations
  • internal facing
  • can also be the COO

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Last update: 2023-03-20