Question: Hi, I have question: Is it wise for the CEO of a company to also be Chairman of the Board?
Answer: SB Law appreciate your interest in our legal consultant services. Regarding your question, we would like to advise you as follows:
Technically, CEO and Chairman are NOT compulsory to be the same person! You can draft the charter to provide for both CEO and president to be separate offices in the corporation, but a single individual acting in both. Whether this is a wise decision or not depends on your particular circumstances. In general, you should separates CEO and Chairman, and then hire the professional CEO to manage your company.