A chief executive officer (CEO), or chief executive, is the highest-ranking corporate officer or executive officer of a corporation, or agency. Typically, a CEO has cadre of subordinate executives, each of which has specific functional responsibilities. These direct reporting relationships most often include: Chief Financial Officer, Chief Operating Officer, Chief Marketing Officer, and Chief Information Officer. Although not an Executive, the Director of Human Resources plays a vital role within any corporation. However, depending on the industry in which the company operates and/or the organizational structure the company has employed, various other functional areas may be highlighted through the CEO's direct span of control. Some of these less common monikers include: Chief (Business) Development Officer, Chief Knowledge Officer/Chief Learning Officer, Chief Strategy Officer, Chief Risk Officer, and Chief Credit Officer. A Chairman is selected by a company’s board to lead it, chair meetings and lead a final consensus from a disparate point of view among its members. The Chairman is the presiding Director over the other Directors on the board and must be fair, a good listener, and a good communicator. Directors have a high level of fiduciary responsibility of overseeing the operation of a corporation. Traditionally, the Chairman also holds the title of CEO and combined, these are the highest ranking positions in a corporation. The term President is often used interchangeably with Chairman, although this use is more prevalent in the United States. The CEO is the head of the Management Committee, and usually reports to the board, which is headed by the Chairman. As far as the boards of public companies are concerned, the role of the chairman of the board as distinct from that of the company's CEO or managing director has more recently been brought into focus, stemming from alleged corporate governance shortcomings observed in companies where the two roles are combined. A pivotal document regarding effective governance is the Cadbury Report, the recommendations of which have been adopted to greater or lesser extent by the European Union, the United States, the World Bank, and others It seems to me to be the case that sometimes the President becomes the Chairman when a company is re-organized. Managing director is the term used for the chief executive of many limited companies in the United Kingdom, Commonwealth and some other English speaking countries. The title reflects their role as both a member of the Board of Directors but also as the senior manager.