vice president

Corporate GovernanceLegal glossary term

Legal Definition

A Vice President is an executive officer within a corporation or organization, typically holding a senior management role that assists the chief executive (e.g., CEO) in the overall strategic direction of the entity. In corporate governance, this role signifies a high-ranking executive responsible for specific operational areas or advisory functions.

Plain-English Translation

A Vice President is like a very important manager who helps run the company alongside the main boss. They are in charge of big decisions and often make sure the company follows the rules and plans correctly.

Context in Contracts

It matters because it designates a high-level management role, often involving strategic decision-making, oversight of operations, and representation of the company's interests in legal proceedings or corporate governance structures.

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01

A corporate structure where the Chief Executive appoints a Vice President to oversee product development.

02

A legal document outlining the roles and responsibilities of the VP in managing a specific division.

Document context

How vice president shows up in legal documents

What is it?

A Vice President is an executive position within a corporation, usually reporting to the CEO or President, responsible for specific duties or divisions within the organizational structure.

Why does it matter?

It matters because it designates a high-level management role, often involving strategic decision-making, oversight of operations, and representation of the company's interests in legal proceedings or corporate governance structures.

When does it matter?

It usually appears in corporate bylaws, executive appointments, board resolutions, and formal organizational charts where leadership roles are defined.

Where is it usually seen?

It is usually seen in corporate charters, shareholder agreements, executive committee structures, and official titles within legal filings or regulatory compliance documents.

Who is affected?

The individual holding the Vice President title is typically an executive officer, often a senior manager or director who assists the chief executive in executing strategic plans.

How does it work?

In practice, the Vice President acts as a high-ranking executive, taking on specific responsibilities delegated by the CEO, ensuring that operational aspects of the business are managed effectively under the overall leadership framework.

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Wikipedia

Vice president

A vice president or vice-president, also director in British English, is an officer in government or business who is below the president (or chief executive officer) in rank. It can also refer to executive vice presidents, signifying that the vice president...

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Disclaimer: We do not provide legal advice. We translate legal language into plain English and help you prepare for a conversation with a lawyer.