The difference is a chairman eats the chairs the board members use after each quarter, while the CEO burns the chairs after each quarter in the company furnace.
The board members are there to water board the Chairman if he is unable to build enough chairs for the board meeting. If he succeeds in making the correct number of chairs, then the CEO (Chair Execution Officer) will recede henceforth back under ground for 6 more weeks of board meetings.
Only about 80% correct The best way to describe the difference is simply to state that a CEO runs the company and the chairman runs the board and then list the different responsibilities of each 1) There is no NEED to appoint an executive team, many companies dont (although see point three) 2) A PLC is not the same as a listed company (a Listed company is required to be a PLC but not all PLCs are listed companies) 3) A LTD company needs only one Director a PLC NEEDS two 3b) A Director doesnt NEED to do anything. For instance a company can often have spouses and family members as directors who dont do anything 4) A company can be listed without going through an IPO (although this is pretty rare) 5) A chairman is a bit like the Speaker of the House in that they dont normally vote at board meetings (although they have the right) except when there is a tie and they have the casting vote 6) There is no "it is considered to be best practice for directors to be NED's". Its each company to its own although to be listed above FTSE 350 in the UK at least 50% of directors should be NED's but otherwise the requirement is only two
I just started a S Coup. a few months ago. I'm currently the CEO, Chairman, Founder, President, Vice President, Head Accountant, and Secretary of the company. Had found writing my name 100s of time to the state.
I hate how the government has out democracy and bureaucracy in companies. I would want to be the unquestioned monarch of my company, have a feudal structure and declare my heir.
You can do it that way in a private company, public companies where you don’t have full ownership are the ones that must follow representative form. If you don’t want others to have a say in your company don’t sell off your company
Being on the board of directors is "nice work" if the firm is big and profitable, and if you don't get into legal trouble while you're at it, or worse, a bankruptcy. Depending on the jurisdiction, you can be held personally responsible by the state or other entities.
My brother and I started an S Corp and I'm the Executive Chairman and Chief Business Development Officer (CBO) and My brother is the CEO and member of the Board
Fake news rated mostly false. Infographic uses picture of an Apatosaurus instead of a Brachiosaurus. Different sauropods. At least the real toy picture was correct.
Interesting factoid; there are laws in some (mabey all) Scandinavian countries that ban the CEO and the head of the bord to be the same person unless the company is extremely small.
Not sure how consciously the names for the characters were chosen, but they're certainly a diverse assortment of traditional English names! All about diversity in business!
So if two people start a company together, one of them runs the company on a day to day basis and the other oversees the progress on a regular basis but not day to day, would this fit the distinction of CEO and chairman?
So it's kind of like the difference between the head of state and head of government? The President of the US is both Chairman and CEO, Queen is Chairman, Priminister is CEO.
US Government is a little weird. It'd probably be more accurate to say all four of the Speaker of the House, the Presiding Officer of the Senate (equivalent term to the Speaker), the Chief Justice, and the President are simultaneously the Chairman (of their specific sections of US Government). The CEO is too strong of a term for the House, Senate, and Supreme Court leaders, but the President is a good fit for the CEO position. The branching nature of the US government kind of messes up the analogy.
This is nothing compared to many companies. For instance Virgin Money the chairman is paid £375,000 and NED's are paid £75,000 and this is a fairly small company compared to many which can run into millions
Hi, guys, I would like to know if the Chief Officers need to be having certain qualifications, e.g. the company with four founders and they all have different knowledge in the business, some with skills and some with certificates. Can they deploy them selfs to Chief Officers positions?
Quick question on the course, is there a signup deadline or can you do it in your own time? I imagine a lot of people will be happy to put £35 a month aside and then buy it next year rather than stretching their budget now.
@@mrskinner3203 There are two types of company being LTD and PLC (meaning incorporated ie not sole trader/partnership) and there are different requirements for each If you are a PLC (specifically a listed PLC) you need to follow much more stringent requirements such as the Corporate Governance Code which stipulates such things which is supposed to "ensure" a "well run company" that isnt doing illegal things for instance All depends on if you want to raise cash (usually to expand) via listing on stock exchanges
@@mrskinner3203 Because if he kept 100% he would not get that additional $100 million to spend. Usually the company will need this extra money to expand.
How are independent directors selected? Are they typically shareholders (and therefore not employees) or is that their profession where they try to get hired by different boards based on past credentials?
NEDs are brought on board by the Nominations Committee (one of a few committees such as the Audit Committee, Remunerations Committee and Corporate Governance Committee being the main ones) on which various directors sit (including some NEDs themselves) NEDs can hold shares but this MAY cause their indpendence to be compromised. It is the role of the Nominations committee to consider this fact in their decisions (as well as family connections or business connections etc). Think of them as contractors who are paid for a certain specified piece of work then they go off and do something else until they are required again Usually (although not required) NEDs sit on many different boards as NEDs. Their main role is to bring as much experience from the outside as possible and to challenge what the company is doing (a devils advocate if you will). committee
The World Economic Forum is pushing for "stakeholder capitalism" after a "Great Reset" (following an economic collapse) as opposed to shareholder capitalism. What is your take on this AA and what could be the unintended consequences of such policies? Possibly a good topic for a future stream!
The next question is who the 'President' of the company. Or is that an alternative term for CEO, or maybe it only applies to certain countries or industries?
so glad you are trying to bring your academic knowledge more public since your university sacked you for not following their BS post modernist conformity. i will look into this for my future knowledge building, keep up the good fight AA...
I can hear the disdain in your voice for even having to make this video. Your pain is justified and you need not be ashamed of your sub base, this is just how people are
@@kungfujoe2136 No (but kinda sort of) A the vast majority of incorporated entities (companies to you and me) are LTD's but you can also become a PLC In order to be a PLC (amongst other requirements) a company MUST have a minimum of £50,000 equity shares but just because one has £50,000 shares doesnt automatically make you a PLC Most LTD's dont have a CEO or Chairman as they are owner run but PLC's need to jump through the legally required corporate governance hoops
Great video, now invest in a decent microphone. Sorry but it is just sad at the moment to listen to great content and a good voice being "ruined" by a bad sound.
@@AcademicAgent I can't seem to message you AA via twitter. I wanted to wright it first then ask, I've also been sourcing my content and re reading some of my books for sources. Any ideas what's going on(ps:I'm eDMGclone if you could make it easier.)
Nathan Hood has set up a scholarship as per the ad in this video. Down the line we will see about other places. Not a bad idea for other sponsored places.
@jeremy Lyons - They should have Googled it years ago, when the thought occurred, not waited until someone made a UA-cam video for them. Therefore, I stand by my "lazy" analysis. Have a nice day.
@@fleetcenturion I could ask nearly everyone I've met in my life and I bet you less than 40% would remember having the thought "what's the difference between the CEO and the Chairman?" coming across their minds. Most people don't care about these things, they're too caught up in their little life story and the Bread and Circuses to pay it any mind
0:57 Founder
2:20 CEO
4:38 Annual Shareholder Meeting
5:11 Board of Director
7:27 Chairman of the board
The Chairman is the guy who decides what to pay himself as CEO.
The difference is a chairman eats the chairs the board members use after each quarter, while the CEO burns the chairs after each quarter in the company furnace.
The board members are there to water board the Chairman if he is unable to build enough chairs for the board meeting. If he succeeds in making the correct number of chairs, then the CEO (Chair Execution Officer) will recede henceforth back under ground for 6 more weeks of board meetings.
@@LiquidSwan Correct
Only about 80% correct
The best way to describe the difference is simply to state that a CEO runs the company and the chairman runs the board and then list the different responsibilities of each
1) There is no NEED to appoint an executive team, many companies dont (although see point three)
2) A PLC is not the same as a listed company (a Listed company is required to be a PLC but not all PLCs are listed companies)
3) A LTD company needs only one Director a PLC NEEDS two
3b) A Director doesnt NEED to do anything. For instance a company can often have spouses and family members as directors who dont do anything
4) A company can be listed without going through an IPO (although this is pretty rare)
5) A chairman is a bit like the Speaker of the House in that they dont normally vote at board meetings (although they have the right) except when there is a tie and they have the casting vote
6) There is no "it is considered to be best practice for directors to be NED's". Its each company to its own although to be listed above FTSE 350 in the UK at least 50% of directors should be NED's but otherwise the requirement is only two
These points are all correct and fair!
I just started a S Coup. a few months ago. I'm currently the CEO, Chairman, Founder, President, Vice President, Head Accountant, and Secretary of the company.
Had found writing my name 100s of time to the state.
What's the product tax shelter?
AA, you can't do ad reads. Have your wife do it, especially if she has a pleasant voice. This is my tip to you.
Harsh but fair.
I feel like he could do it if he got over his academic/british sheepishness
It's only partly the voice it's mainly whomever voices it had an absolute shit microphone.
😅
I can feel the pain in your voice when you shill AA. Keep chuggin my friend, you’ll get used to it.
I hate how the government has out democracy and bureaucracy in companies. I would want to be the unquestioned monarch of my company, have a feudal structure and declare my heir.
You can do it that way in a private company, public companies where you don’t have full ownership are the ones that must follow representative form. If you don’t want others to have a say in your company don’t sell off your company
I'd love to see more intra-company politics videos.
Being on the board of directors is "nice work" if the firm is big and profitable, and if you don't get into legal trouble while you're at it, or worse, a bankruptcy. Depending on the jurisdiction, you can be held personally responsible by the state or other entities.
My brother and I started an S Corp and I'm the Executive Chairman and Chief Business Development Officer (CBO) and My brother is the CEO and member of the Board
Very good presentation easily understood
Fake news rated mostly false. Infographic uses picture of an Apatosaurus instead of a Brachiosaurus. Different sauropods. At least the real toy picture was correct.
Considering that dinosaurs are mostly fiction ...
Thank you, this is very helpful.
Thanks for the informative video!
Interesting factoid; there are laws in some (mabey all) Scandinavian countries that ban the CEO and the head of the bord to be the same person unless the company is extremely small.
thank you for this breef explanation. NOBODY other than family will take over my business if I step down but!
BY My Own Will!!
Not sure how consciously the names for the characters were chosen, but they're certainly a diverse assortment of traditional English names! All about diversity in business!
I was looking for the blandest and most inoffensive names possible, lol!
Good joob, i've never seen anything like it..
Keep going.✊
Can the board of directors remove ownership of the owner who owns at least 50% company shares?
So if two people start a company together, one of them runs the company on a day to day basis and the other oversees the progress on a regular basis but not day to day, would this fit the distinction of CEO and chairman?
This made me want to go buy a Brachiosaurus.
So it's kind of like the difference between the head of state and head of government? The President of the US is both Chairman and CEO, Queen is Chairman, Priminister is CEO.
US Government is a little weird. It'd probably be more accurate to say all four of the Speaker of the House, the Presiding Officer of the Senate (equivalent term to the Speaker), the Chief Justice, and the President are simultaneously the Chairman (of their specific sections of US Government). The CEO is too strong of a term for the House, Senate, and Supreme Court leaders, but the President is a good fit for the CEO position. The branching nature of the US government kind of messes up the analogy.
You know your stuff.
Got excited about the ending promotion, only to realize I'm 4 months late.
🤔 60k for a few meetings? The Academy isn’t looking for a director of colonial operations by any chance is it?
This is nothing compared to many companies. For instance Virgin Money the chairman is paid £375,000 and NED's are paid £75,000 and this is a fairly small company compared to many which can run into millions
Appreciate the education... Could of used more baker analogies though 😛
Hi, guys, I would like to know if the Chief Officers need to be having certain qualifications, e.g. the company with four founders and they all have different knowledge in the business, some with skills and some with certificates. Can they deploy them selfs to Chief Officers positions?
Impressive. Very nice.... Let's see Paul Allen's dinosaur company.
Dave eats the third biscuit.
Quick question on the course, is there a signup deadline or can you do it in your own time? I imagine a lot of people will be happy to put £35 a month aside and then buy it next year rather than stretching their budget now.
ua-cam.com/video/wWfQOW2AwwA/v-deo.html
what's a company tho? whats a chair?
All about the game and how you play it
Sounds like a lot more trouble to split the shares of the company. Why not keep 100%?
In this example, $100,000,000
@@AcademicAgent I mean as CEO why not keep 100% of the company, therefore no need to bother with chairman, board meetings etc
@@mrskinner3203 There are two types of company being LTD and PLC (meaning incorporated ie not sole trader/partnership) and there are different requirements for each
If you are a PLC (specifically a listed PLC) you need to follow much more stringent requirements such as the Corporate Governance Code which stipulates such things which is supposed to "ensure" a "well run company" that isnt doing illegal things for instance
All depends on if you want to raise cash (usually to expand) via listing on stock exchanges
@@mrskinner3203 Because if he kept 100% he would not get that additional $100 million to spend. Usually the company will need this extra money to expand.
@@mrskinner3203 sell shares to gain assets for much more potential growth.
"seeing that thumbnail"
No CHANCE IN HELL YOU GOT!!!!!
How are independent directors selected? Are they typically shareholders (and therefore not employees) or is that their profession where they try to get hired by different boards based on past credentials?
NEDs are brought on board by the Nominations Committee (one of a few committees such as the Audit Committee, Remunerations Committee and Corporate Governance Committee being the main ones) on which various directors sit (including some NEDs themselves)
NEDs can hold shares but this MAY cause their indpendence to be compromised. It is the role of the Nominations committee to consider this fact in their decisions (as well as family connections or business connections etc). Think of them as contractors who are paid for a certain specified piece of work then they go off and do something else until they are required again
Usually (although not required) NEDs sit on many different boards as NEDs. Their main role is to bring as much experience from the outside as possible and to challenge what the company is doing (a devils advocate if you will). committee
Hahahaha the 2 min ad! =)
The World Economic Forum is pushing for "stakeholder capitalism" after a "Great Reset" (following an economic collapse) as opposed to shareholder capitalism. What is your take on this AA and what could be the unintended consequences of such policies? Possibly a good topic for a future stream!
What does "stakeholder capitalism" even mean?
100 second commercial at the end
The next question is who the 'President' of the company. Or is that an alternative term for CEO, or maybe it only applies to certain countries or industries?
5:30 Directors owe a duty to "promote the success" of a Company, they do not have duties toward the shareholders themselves.
I am the plastic dinosaur toy king.
So Dave didn't want to found a bread factory?
Dave Jones is EEVBlog
so glad you are trying to bring your academic knowledge more public since your university sacked you for not following their BS post modernist conformity. i will look into this for my future knowledge building, keep up the good fight AA...
I can hear the disdain in your voice for even having to make this video. Your pain is justified and you need not be ashamed of your sub base, this is just how people are
Seems like they are all there to take a piece of the pie, add needless complexity, and justify their salary
So is Nathan Hood your Chairman then?
Head of sales and media.
So, USA is more monarchistic, rather than UK?🤔
my question is who has what power? is that different from company to company?
CEO runs the company (like the Prime Minister) Chairman runs the board and takes care of such corporate governance legally required matters)
from what i understand of the vid it depends on the amount of stock they have right?
@@kungfujoe2136 No, the stock each director holds is not relevant.
@@kungfujoe2136 No (but kinda sort of)
A the vast majority of incorporated entities (companies to you and me) are LTD's but you can also become a PLC
In order to be a PLC (amongst other requirements) a company MUST have a minimum of £50,000 equity shares but just because one has £50,000 shares doesnt automatically make you a PLC
Most LTD's dont have a CEO or Chairman as they are owner run but PLC's need to jump through the legally required corporate governance hoops
Great video, now invest in a decent microphone. Sorry but it is just sad at the moment to listen to great content and a good voice being "ruined" by a bad sound.
still in need of a real mike. my speakers are hurting me with trebles.
Can’t find you on Twitter
Gary Howlett kingofshirgar
@@AcademicAgent I can't seem to message you AA via twitter. I wanted to wright it first then ask, I've also been sourcing my content and re reading some of my books for sources. Any ideas what's going on(ps:I'm eDMGclone if you could make it easier.)
eDMGclone just @ed you
Banned from tv?
0:18 Next video - do you know the difference between an Apatosaurus and a Brachiosaurus?
I'd thought you'd play `CHAIRMAN OF THE BOARD'...!!!
I see that you are channeling the inner Turley with shill inserts. Not bad. Still needs some work but baby steps, baby steps.
So, using movies as an analogy, the CEO is the director and the Chairman is the Producer
The CEO runs the company a bit like the Prime Minister (in the UK) but the Chairman runs the board (a bit like the Speaker of the House)
Shilling is turned up a notch in this video
Why not raise funds for additional scholarship places on your course? I'm sure some of your followers would be happy to bung in a few quid.
Nathan Hood has set up a scholarship as per the ad in this video. Down the line we will see about other places. Not a bad idea for other sponsored places.
how unnecessarily long
Why so complicated? Just say that the chairman is the Aufsichtsratsvoritzender.
Couldn't everyone who didn't know just Google it? Jesus, people are lazy!
@jeremy Lyons - They were ignorant, and happily remain ignorant, when the answer is literally a click away.
@jeremy Lyons - They should have Googled it years ago, when the thought occurred, not waited until someone made a UA-cam video for them.
Therefore, I stand by my "lazy" analysis. Have a nice day.
@jeremy Lyons - Maybe not by you.
@jeremy Lyons - Ah, your true level of maturity revealed. Dude, just go away. You made my point for me.
@@fleetcenturion I could ask nearly everyone I've met in my life and I bet you less than 40% would remember having the thought "what's the difference between the CEO and the Chairman?" coming across their minds. Most people don't care about these things, they're too caught up in their little life story and the Bread and Circuses to pay it any mind
I I1/2 mts to tell the difference..ho hum.zzzzx
You're out, Norman.