Officers of a company, their rights and obligations

1. Officers of a company, their rights and obligations

2. A company is a business association which has the character of a legal person, distinct from its officers and shareholders.

The management of a company is
carried out by:
director
manager
company secretary
board of directors

3.

A director is appointed to carry out and control the day-to-day
affairs of the company
A manager is delegated supervisory control of the affairs of the
company
A company secretary is an official who is appointed for
carrying out administrative as well as ministerial duties. A
company secretary mainly focuses on the well being and the
growth of the company.
A board of directors is essentially a panel of people who are
elected to represent shareholders

4.

Shareholder is a member of the company by
virtue of an acquisition of shares in a company
Auditors are persons, appointed by the
company to examine the company's accounts
and to report to the shareholders annually on
the accounts.
Proxy is a person to attend and vote at a
meeting in his/her place when the shareholder
is unable to attend

5.

Board of Directors

6.

Protecting shareholders’ interests :
The board
is policies
responsible
fo
Establishing
for management
Oversight of the corporation or
organization
And making decisions about important
issues a company or organization faces

7.

Functions of a Board of Directors:
In a broad sense, a corporate board
of directors acts as a fiduciary for
shareholders. The board is also
tasked with a number of other
responsibilities, including the
following:

8.

* Creating dividend policies
* Creating options policies
* Hiring and firing of senior of executives (especially the
* Establishing compensation for executives
* Supporting executives and their teams
* Maintaining company resources
* Setting general company goals
* Making sure that the company is equipped with the tools it
be managed well

9.

How many
Howdirectors
many in the
board
of directors?
directors
in the
board
of
directors
A minimum of three directors in the case of a
Limited Company
Two directors in the case of a Private Limited
Company
One director in the case of a One Person
Company

10. Who Officers Are?

Officers typically include high-level
management.
They are appointed by the Board to Directors
to hold various top level roles and
responsibilities within the company.
Despite of their high statuses, they could be
fired or replaced by company directors.

11. REMEMBER!

In many corporations, there's no
difference between an officer
and an employee. However,
company officers have more
authority than engineers and
secretaries.
Some officers don't qualify as
employees, but they're the
exception.
Getting the difference wrong
can land a company in legal or
tax trouble.

12. Some of the most popular types of officers of a company are:

Chief Executive Officer (CEO) is the
highest-ranking person in a company who
is responsible for taking managerial
decisions for the day to day operation of
the company.
Chief Operating Officer (COO) is a senior
executive who oversees ongoing business
operations within the company. COO
reports to the CEO and is usually secondin-command within the company.

13.

Chief financial officer (CFO) is a senior
financial executive with responsibility for
the financial affairs of a company, such
as planning, budgeting, bookkeeping,
accounting, setting up of internal
controls and so on...
Chief Technology Officer (CTO) is a senior
technology executive who oversees
current technology development and
maintenance aspects, for example,
managing technology development,
maintaining technology assets and
create technology policies.

14.

Chief Marketing Officer (CMO) is a senior
marketing executive who is involved in a
wide variety of tasks like increasing
revenue, improving brand image and
managing marketing campaigns.
Chief Legal Officer (CLO) is a senior
legal executive who helps the company
reduce its legal risks by advising the
company and its employees on major
legal and regulatory issues and manage
litigation risks.

15.

Keep in mind that in smaller
company, one person may serve
as the business's sole director,
officer, and shareholder.