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Home > QFINANCE Dictionary > Definition of chair

Definition of

chair

Corporate Governance

organization's highest executive the most senior executive in an organization. The chair of an organization is responsible for running the annual meeting, and meetings of the board of directors. He or she may be a figurehead, appointed for prestige or power, and may have no role in the day-to-day running of the organization. Sometimes the roles of chair and chief executive are combined, and the chair then has more control over daily operations; sometimes the chair is a retired chief executive. In the United States, the person who performs this function is often called a president. Historically, the term chairman was more common. While chair or chairperson are now the most generally acceptable, chairman remains in common use, especially in the corporate sector.

Definitions of ’chair’ and meaning of ’chair’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’chair’ and other financial terms with our online QFINANCE Financial Dictionary.

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