Officer

Definition

Officers are responsible for carrying out a company's day to day business operations. In a corporation, the officers are hired and fired by the board of directors, may bind the company to contracts as the corporation's agent, and are subject to the same fiduciary duties are directors. Most states require corporations to name a President, Secretary and Treasurer. Other officers, like a Vice President, are usually optional, at the discretion of the board of directors.

  • [[wex:Board of Directors]]
  • [[wex:Fiduciary Duty]]