Investing in employees will also make a difference for retention. A company will succeed only if its key employees continue to learn and grow.īuilding a dream team is challenging but a worthwhile undertaking. While this tactic may not yet be commonplace, it serves to highlight the power behind the HR department, and to show how a CEO should always be thinking strategically about the organization's employees. What do Xerox, Dunkin' Donuts and General Motors have in common? They all promoted VPs of HR to CEO. One company that recently decided otherwise was Caterpillar, which last year made its CEO Jim Umpleby, chairman.ĭeveloping a direction for human resources This is a contentious subject, as many believe that the chairman of the board and CEO should be separate positions, allowing for better company oversight. In this light, the board’s authority in the company will vary greatly, depending on the CEO’s overall involvement, as he or she may actually serve on the board and be its chairman. In some cases, the company was founded by the CEO, who may own the majority of the company's stock. But executive appointments are contingent on the company's structure. In a standard corporation, a CEO will report to a board of directors and often seek their advice and guidance. In reality, this couldn't be further from the truth. Many CEOs, for example, the Koch brothers, stay hidden behind the scenes so every entrepreneur must decide if a public facing role is his or her strong suit. These days, Mark Zuckerberg may well be doing more damage than good to Facebook's reputation.
Related: My Startup Has Grown up - How Expansion Changed My Role as CEO Many budding entrepreneurs see figures like Mark Zuckerberg and Elon Musk and believe that, to be successful, they too need to build a public-facing image. The resulting duties can involve fielding interviews and media requests, making appearances on radio and TV, issuing press releases and attending local events. Mark Zuckerberg, for instance, is synonymous with Facebook. A CEO is often the public face of the company.
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