S
Syranius Apostle
- Original Poster
- #1
I have been trying to get my head around various corporate terms, for some time now. Adopting the 'you don't know what you don't know' mentality, I have inadvertently spent a lot of time going around in circles as I have ended up trying to find the differences between elements that are actually the same thing. The reason for this, being that I have been comparing 'British speak' with its Americanised counterparts. To name a few examples ...
Given that the Companies Act 2006 does use the prefix 'Chief', when it comes to the Company Secretary, I assume the term 'Chief' is commonly used within the UK as well as America. With this in mind, would it be a fair assumption to say that whilst the US would use terms such as 'Chief Marketing Officer' and 'Chief Financial Officer' and collectively refer to these as the 'C-Suite', would the UK variants simply replace 'Officer' with 'Director'? For example 'Chief Financial Director'.
Whilst a lot of these titles come across as pompous and 'empty', I want to ensure that fully understand these concepts as even sticking with the UK variants, it can be misleading, since the Managing Director, Financial Director etc may not serve on the Board of Directors and thus may not actually be Directors at all. That said, I do believe that non-Board Directors are referred to as 'Non-Statutory Directors'.
- Managing Director v CEO
- Articles of Association v Corporate Bylaws;
- 'Officer' (in the context of a Board Member) v 'Officer' (in the context of the 'C-Suite').
Given that the Companies Act 2006 does use the prefix 'Chief', when it comes to the Company Secretary, I assume the term 'Chief' is commonly used within the UK as well as America. With this in mind, would it be a fair assumption to say that whilst the US would use terms such as 'Chief Marketing Officer' and 'Chief Financial Officer' and collectively refer to these as the 'C-Suite', would the UK variants simply replace 'Officer' with 'Director'? For example 'Chief Financial Director'.
Whilst a lot of these titles come across as pompous and 'empty', I want to ensure that fully understand these concepts as even sticking with the UK variants, it can be misleading, since the Managing Director, Financial Director etc may not serve on the Board of Directors and thus may not actually be Directors at all. That said, I do believe that non-Board Directors are referred to as 'Non-Statutory Directors'.