Anonymous asked in Business & FinanceCorporations · 8 years ago

why are owners of big companies like apple or walmart referred to as CEO?

why can't they just simply call them the owner.

2 Answers

  • 8 years ago
    Favorite Answer

    CEO stands for Chief Executive Officer. These people ARE NOT the owners of the companies. They are the person who manages the day-to-day business of the company. The owners of the business are the shareholders. People who have purchased stock to be a part owner in the company.

    The CEO reports to the Board of Directors (BOD). The BOD is responsible for determining the goals, objectives, and overall plan of the company. The CEO is the one who executes this plan and is monitored by the BOD in acheiving these goals.

  • 8 years ago

    Because they own more than one place or have a monopoly. CEO cheif executive officer they have to do much more work they deal with legal issues and such.

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