Who is a CEO? What does CEO stand for?
A CEO (Chief Executive Officer) is the senior-most highest-ranking executive in a company.
The primary responsibilities of a CEO are decision making, management of overall operations, and resources of a company, acting as the main figure of communication between the directors and the corporate operations.
The CEO reports directly to and is accountable to, the Board of Directors of a company. In simple terms being a CEO means to be the public face of the company.
A CEO is chosen by the board and shareholders of a particular company. Sometimes other titles are used to address CEOs, such as chief executive, president, and managing director.
ROLE OF A CEO?
Being one of the most important figures of a particular organization, the roles, and work of a CEO varies from one company to another. Usually, it depends on the organizational structure or sometimes the size of the company.
For instance-In smaller companies, the CEO takes on more “involving roles” e.g. hiring a staff. Whereas In larger companies, the CEOs usually deal with upper-tier corporate strategies and major decision-making tasks.
The usual responsibilities, duties, and job description of a CEO-
There is no shortcut to being one of the highest-paid CEO. It takes years of hard work, continuous skill development, and constant efforts. Below mentioned are some important characteristics of a CEO.
- Communicating on behalf of the company, with the board of directors, government, and legal entities, and of course with the public.
- Then leading the development of the company’s strategy.
- Everyday creation and implementation of the company or its vision and goals.
- Analyzing the other executive entities and their contribution within the company including directors, vice presidents, and presidents
- Maintaining and understanding the competitive business environment, prospects for growth, and new trends in the industry.
- Making sure that the company maintains its high social responsibility while doing business.
- Assessing risks, a company can face and making sure that they are looked after and reduced.
- Constructing strategic goals and ensuring that they are implemented well in the company.
Highest-Paid CEOs in the world
Image Courtesy: CNBC.com
Elon Musk, one of the most popular and most successful entrepreneurs with a net worth of a total of 7,940 crores USD.
He is the CEO of Tesla Inc. (NASDAQ: TSLA), an automotive and energy company focused on developing high-performance, fuel-efficient cars (Electric Cars), along with many other companies that strived and are still striving under his umbrella.
His Annual earnings reach up to 2.9 billion USD making him the highest-paid CEO in the entire world.
Sundar Pichai, an Indian-American computer scientist became the product chief at Google. When the holding company of google Alphabet inc was announced in August 2015. He became the CEO of Google On December 3, 2019. He replaced the google co-founder as the CEO of Alphabet Inc. he became one of the highest-paid executives with annual earnings of 280.6 million last year.
- Tim cook
Pc: business insider
Tim cook joined apple inc in 1998 and became its CEO in 2011 with a salary of 900,000 USD. Today he has 11.1 million worth of salary. Being the second-largest shareholder of his company, he became officially a billionaire in August 2020. He has a net worth of 1 billion today. Cook has decided to donate a large chunk of his money to the charity after his death.
- Robert H. Swan
With a net worth of $116 million, he has become one of the richest CEOs in the world. He became CEO of intel corporation in January 2019. Formerly he was appointed as a chief financial officer in the company. Being CFO at eBay, electronic data systems, and TRW inc. Earlier, he was the first outsider CFO appointed by the intel. With his new position, his annual earnings increased to 66.9 million USD.
- Lisa T. Su
Lisa Su is the CEO of the semiconductor firm advanced microdevices. The company operated through the computing and graphics, Embedded and Semi-Custom which includes notebook processors, chipsets, embedded processors. with a net worth of $373 million and 58.5 million annual earnings. She has been named in the Forbes list of “ America’s self-made women 2020” and “America’s top 50 women in tech 2018”.
- John c plant
Pc: 24/7 wall st.
Mr. Plant is the co-chief executive officer of Howmet aerospace inc. The company manufactures jet engine components, fasteners, and forged aluminum wheels for heavy trucks. He is the former chairman of the board, president, and CEO of TRW automotive. TRW inc was ranked among the top 10 automotive suppliers globally under Mr. Plant’s helm. His $41 million net worth was estimated in February 2020. He became one of the top 50 highest-paid CEOs.
- Bob Chapek
Pc: digital tv europe
Mr. Chapek has served as Chairman of Disney Parks, Experiences, and Products since the segment’s creation in 2018. He has been the Chairman of Walt Disney Parks and Resorts since 2015. On 25 February 2020, he became the CEO of the Walt Disney company.
Mr. Chapek earned a B.S. in Microbiology at Indiana University Bloomington and an MBA from Michigan State University.
His annual earnings reaching up to $ 47.5 million makes him another successful executive on the list.
- David m zaslav
He holds the position of president and chief executive officer at discovery inc. since January 2007. Under his helm, discovery inc. global distribution platforms expanded to 3 billion worldwide audiences. He also has served at NBC universal for 20 years. He has been awarded multiple awards for his distribution in the media industry such as the Robert F. Kennedy Human Rights Ripple of Hope Award, the UJA-Federation of New York’s Steven J. Ross Humanitarian Award.
With a net worth of $200 million today, he is acclaimed as one of the highest-paid executives.
- Miguel Patricio
He was appointed as the CEO of the American food company kraft Heinz in April 2019. He recently has come up with new strategies for the company’s growth which has six key features including consumer platforms, Taste Elevation, Easy Meals Made Better, Real Food Snacking, Fast Fresh Meals, Easy Indulgent Desserts, and Flavorful Hydration. He earns around 43.3 million USD annually.
- Satya Nadella
Pc: just richest
After serving at American software company “Sun Microsystems” he moved to Microsoft in 1992. He took over the position as the third CEO at Microsoft in 2014 and has been given the credit to lead Microsoft towards cloud computing.
He earned around $42.9 million in 2019. He becomes another Indian-American executive with a net worth of around $514 million.
In 2020, Nadella was acknowledged as Global Indian Business Icon at CNBC-TV18’S India Business Leader Awards in Mumbai. In 2019, Nadella was named FINANCIAL TIMES Person of the Year and in FORTUNE magazine as Businessperson of the Year.
With big positions comes bigger responsibilities. The story for a company’s success starts with a dedicated leader who takes big decisions in the favour of the company. These CEOs are indeed an inspiration to everyone who wants to excel in businesses.