Chair is a term frequently used for the highest office in an assembly such as a committee, commission, or board. A committee (some of which are titled instead as a "Commission" or other terms discussed below in) is a type of small Deliberative assembly that is usually intended The term is also applied to the holder of the office. While the term chairman remains in widespread use, chairperson, and chair have become increasingly common. ^[1]

The duties of the chairman are to preside over the assembly and to conduct its business in an orderly fashion. ^[2] When the assembly is not in session, the chairman often acts informally as its head, its representative to the outside world, its spokesperson, etc.

A majority of FTSE 100 companies in the UK have a "chairman," as do the boards of most Fortune 500 companies in the U. The FTSE 100 Index (ˈfʊtsiː footsie, abbreviated Financial Times Stock Exchange Index) is a Share index of the 100 most highly capitalised Please do not add the complete list of fortune 500 companies The list is copyrighted by Fortune which makes money by selling the content S.

Corporate governance

A chair is selected by a company's board to lead the board of directors, preside over meetings, and lead the board to consensus from the disparate points of view of its members. Consensus has two common meanings One is a general agreement among the members of a given group or Community, each of which exercises some discretion in The chair is the presiding director over the other directors on the board and is expected to be fair, a good listener, and a good communicator. Directors have a high level of fiduciary responsibility for overseeing the operation of a corporation. fiduciary duty is a legal relationship of confidence or trust between two or more parties most commonly a fiduciary or Trustee and a principal A corporation is a separate legal entity usually used to conduct business

The term president is often used interchangeably with chair, although this usage is much more prevalent in the United States. President is a Title leaders of Organizations companies, Trade unions universities, and countries. The CEO is the head of the management committee and usually reports to the board, which is headed by the chair.

In public companies, the role of the chairman of the board is distinct from that of the company's CEO or managing director. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc Managing director is the term used for the Chief executive of many limited companies in the United Kingdom, Commonwealth and some other English This point has more recently been brought into focus after corporate governance shortcomings were observed in companies where the two roles are combined. Corporate governance is the set of Processes customs Policies, laws and institutions affecting the way a Corporation is directed administered or controlled It is believed that the separation of functions within the board of directors or in the structure of the supervisory board and management board would facilitate control over the workings of the company and increase the accountability of the CEO or chair of the management board. Separation of powers, a term ascribed to French Enlightenment Political philosopher Baron de Montesquieu, is a model for the Governance In an attempt to inject transparency into the relationship between executive management and the board of directors as well as between management and the market or shareholders, the UK Cadbury Report was published in 1992. The Cadbury Report, titled Financial Aspects of Corporate Governance, is a report of a committee chaired by Adrian Cadbury that sets out recommendations on the arrangement Its recommendations have been adopted to a greater or lesser extent by some countries within the European Union and the United States, as well as by the World Bank. The European Union ( EU) is a political and economic union of twenty-seven member states, located primarily in The World Bank is an internationally supported Bank that provides financial and technical assistance to developing countries for development programs (e .

Chair of the Board types and their relation to the company management

In the case of companies and similarly-organized bodies, there are generally two types of Chair: Non-executive and Executive.

Non-executive Chair of Board:

• A part-time officeholder who sits on and chairs the main board of a company
• Provides support and advice to a CEO.
• This position usually entails fulfilling a similar function on a number of additional board committees, as well as being a political figurehead of the Company.

Executive Chair of Board:

• A full-time officeholder who typically leads the board and also takes a hands-on role in the company's day-to-day management.
• Help the CEO to oversee all the operational aspects involved in running the company, which include project planning and development delivery, retail and leasing, sales, market research and many other areas within their extensive scope.
• Have overall responsibility for the company which involves engineering and controlling the company's current growth in and future expansion into international markets.
• In addition, oversees all projects' development activities and related businesses of the company, generating significant financial returns for the shareholders and driving sustainable development.

The chairman often sets the style of leadership of the board which in turn filters down through the organization.

Academic position

Chairs at academic institutions refer to the position, rather than the individual, and are often named after the person who donated the money to support the position. Professors appointed to such a chair often receive guaranteed funding (often endowed). The meaning of the word professor ( Latin: professor, person who professes to be an expert in some art or science teacher of highest rank) varies A financial endowment is a Transfer of Money or Property donated to an Institution, usually with the stipulation that it be invested Colleges and universities, especially older and well-financed ones, may have many such chairs.

Some of the best known chairs have been held by a succession of well-known scholars; the Lucasian Chair of Mathematics at the University of Cambridge has been held by Isaac Newton, Charles Babbage, Paul Dirac, and Stephen Hawking, while the Quain Chair of Jurisprudence has been held by John Austin, H. L. A. Hart, and Ronald Dworkin. The incumbent of the Lucasian Chair of Mathematics, the Lucasian Professor is the holder of a mathematical Professorship at the University of Cambridge The University of Cambridge (often Cambridge University) located in Cambridge, England, is the second-oldest university in the Sir Isaac Newton, FRS (ˈnjuːtən 4 January 1643 31 March 1727) Biography Early years See also Isaac Newton's early life and achievements Stephen William Hawking CH, CBE, FRS, FRSA (born 8 January 1942 is a British theoretical physicist. Jurisprudence is the Theory and Philosophy of Law. Scholars of jurisprudence or legal philosophers hope to obtain a deeper understanding of the nature John Austin (1790 - 1859 was a noted British Jurist and published extensively concerning the philosophy of law and Jurisprudence. Herbert Lionel Adolphus Hart (1907-1992 was an influential English-speaking legal philosopher of the twentieth century. Ronald Dworkin, QC, FBA (born December 11, 1931) is an American Legal philosopher, currently professor of Jurisprudence

The word "chair" is also used in an American universities to refer to the head of an academic department, particularly if the policies of a university are such that the chair is elected directly, or appointed with the recommendation of, the department's faculty. Higher education in the United States refers to a variety of institutions of Higher education in the United States. An academic department is a division of a University or School faculty devoted to a particular Academic discipline. A faculty is a division within a University. The concept of a university with different faculties for different subjects dates back to Al-Azhar University, which had Chairs are simultaneously administrators and faculty members; chairs at one major American university system were estimated to spend 61 to 80 percent of their time on administrative duties, as opposed to their research and teaching. An academic administration is a branch of University or College employees responsible for the maintenance and supervision of the institution and separate from the ^[3]

See also: list of Professorships at the University of Cambridge

See also

• Agency cost
• Board of Directors
• Chair (academic)
• Corporate title
• Moderator
• Presiding Officer
• Named chair (professorship)
• Chair (academic department)

References

• (French) MEDEF on corporate governance