In handling assignments to find the chairman or the chief executive of a large public company, one of the most important issues to resolve at the start is the differentiation of the two roles. In one such search we recently undertook to find the chief executive of a FTSE 100 company, a significant portion of the early work was detailed discussion with the chairman and the nonexecutive directors to define the relationship between the chairman and CEO. I have found the following concept a useful framework on which to build.
There are two bosses in a company – the governance boss and the executive boss. The governance boss is the chairman, the executive boss the chief executive.
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