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Every time you look into a large corporation, you pretty much look at the same few positions: CEO, CFO, CTO, CIO, Managing Director, Presidents, Vice Presidents, Founders, etc. It's getting increasingly difficult to keep track of all these positions, what they really do and where do they stand in the corporate ladder. Should we be paying more attention to the CFO or the CEO when we're making investment decisions? Or should we look at the CIO (Chief Information Officer) who would be releasing most of the internal data?
The Hierarchy Blues
Often said than not, the management team and board of directors have an ultimate goal - Maximize shareholder value. Theoretically, they manage day-to-day operations while the board of directors ensures that shareholders are adequately represented. Practically, however, this board of directors is often made up of the management team itself, which is why and how corporate governance exist.
Corporate governance is defined as "Relationship between all the stakeholders in a company." The list of these stakeholders include shareholders directors, the management team specified by the corporate charter, bylaws, formal policy and rule of law. Business environmental factors has forced ownership and management to split into two different categories, to the evolution of public ownership.
Back in the 20th century, businesses are often family-run businesses. Vineyards, breweries, steel manufacturers, vehicles, etc., who were once family owned and run moved into expanding their size and make it publicly owned - Which could be a very lucrative venture. Today, many of these businesses are large international conglomerates trading publicly on one or more global exchanges.
Company controllers
The Chairman, Internal and External Directors (Board of Directors). They all play different supervisory roles, in which they overlook the management team, business directions and strategies, approve high level budgets and maintaining the image and integrity of the company.
The Management team on the other hand, is responsible for the day-to-day operations and profitability of the company, which relates to what your investment decisions may be. But there may be many other factors. The CEO, CFO, CIO, CTO, etc. are all part of the management team.
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