There are many kinds of Executive VP titles used in different companies. This article will help you to understand them better.
All About the Executive VP Titles
The titles and the structure of the company and the organization have been changing over time. The CEO has been traditionally considered as the top man in an organization and has been enjoying a lot of privileges and decision-making powers. But now it is not simply true.
There are many companies in which the CEOs are not the only ones who decide. In such companies, there are many decision-maker authorities around the CEO or the board of directors, or even around different division heads.
The title Executive Vice President came about to address this need for more authority on top of the traditional authority of CEOs. The Executive Vice President usually reports to the CEO but they have their own set of powers within their division or department.
We will be talking about this more in this article.
Lists of Executive VP Titles
Executive Vice President (EVP)
An EVP is the second in command in a company. He reports directly to the CEO and is responsible for managing the entire department he is in charge of. The EVP is usually one of the top people in the company along with the other top executives like SVPs, CFOs, COOs, etc.
The Executive Vice President usually has to deal with several tasks like:
- The EVP usually works under the CEO but unlike CEOs, they have more authority over their departments, so they have more power than the CEOs.
- The EVP is usually appointed by the CEO to manage the specific department or division he is in charge of. Like other executives, an Executive Vice President usually has to report to the board of directors at least once a year.
Executive Vice President of Sales and Marketing
The EVP of Sales and Marketing usually has to deal with the sales and marketing departments. Their job is to increase sales and improve marketing strategies so that they can achieve their target numbers.
The EVP of Sales and Marketing also has to make sure that the marketing department works closely with the sales department so that they can reach their maximum potential.
Executive Vice President of Operations
The EVP of Operations is responsible for all operations in a company from production to shipping to inventory. He has to make sure that his employees are well trained and he has to see to it that the operations run smoothly even in case of emergencies.
The EVP of Operations has to deal also with several tasks like overseeing the manufacturing operations, budgeting for purchasing, accounting for all the expenditures, planning the future operations of the company, hiring and training new employees, etc.
The EVP of Operations also has to report to the board of directors at least once a year.
Many companies use the Executive Vice President titles. These executives are usually given a lot of power in their departments. They usually have to report to the CEO but they have their own set of responsibilities.