A corporate officer responsible for overseeing specific areas of a company’s operations or management, often acting as second-in-command to the President or CEO.
What is a Vice President (VP)?
In a corporation, the Vice President (VP) is an appointed officer who typically manages a particular department, function, or division of the business. The role can vary significantly depending on the company’s size and structure. In smaller corporations, the VP may be directly involved in day-to-day operations and decision-making, while in larger organizations, VPs often specialize in areas such as sales, marketing, finance, or operations.
The Vice President is usually appointed by the board of directors and serves under the authority of the President or CEO. They may step in to fulfill the President’s duties if the President is absent or unavailable, ensuring continuity of leadership. Some corporations have multiple Vice Presidents, each responsible for different functions, such as “Vice President of Finance” or “Vice President of Operations.”
In the context of a newly formed corporation, appointing a Vice President helps distribute leadership responsibilities and formalizes a chain of command, which can improve operational efficiency and demonstrate organizational maturity to partners, investors, and clients.
