So I work for a large bank in the United States. Me and my coworkers always joke that whenever something bad or inconvenient happens it’s the CEOs fault. Though it’s just a running joke it got me thinking, on a day to day basis what does a CEO actually do? I get the “Chief Executive Officer” nomenclature means they more than likely make executive decisions but what does that look like? Are they at their desk signing papers all day? Death by meeting?
Edit: Holy crap thanks for all the answers I feel like this sub always pulls through when I have a weird question. Thanks guys!
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They get paid a lot of money to cut costs and perform stock buybacks e.g. artificially increasing the stock price…CEOs are hired by the board of directors a.k.a. the company’s largest shareholders, so the CEO’s only incentive is to increase share price as much as possible. CEOs are paid exorbitant amounts so that they can make these questionable decisions (layoffs, hiring freezes, cost cutting, reinvesting income poorly, etc.) and after a few years escape with their golden parachute and live happily ever after, with zero fucks given about who they fucked over while doing their big man important office job.
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