Short for chairman of the board, this is the highest-ranking corporate officer. The chairman presides over board meetings. Often one person may hold the positions of chairman and chief executive officer. Depending on the personality and clout of the chairman, the chairman may have a lot of power and authority or may take a distant back-seat to the chief executive officer of the company. A chairman may be more of an honorary position for a long-term employee or another prominent person, large shareholder, or a member of the founding family.