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Delegation to Officers

19 January, 2016 - 16:39
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Figure 27.2 The Corporate Governance Model 
 

The directors often delegate to officers the day-to-day authority to execute the policies established by the board and to manage the firm (seeFigure 27.2). Normally, the president is the chief executive officer (CEO) to whom all other officers and employees report, but sometimes the CEO is also the chairman of the board.