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!
In: 1423
The function of a CEO in Capitalism is to extract wealth from the corporation so that the working people in the organization are unable to become rich. Capitalism allows privatization of common wealth, ‘focussing’ the power and wealth into one person, and the board & Exec team (‘leadership teams’) are also allowed to have large salaries — but none match the CEO. The CEO’s package will be exorbitant and have amazing perks (private jet, paid residence, paid cars / drivers / security detail, paid trips & meals, sometimes money for fitness trainers / fashion consultants / coaches, and some CEO’s get sexual perks from assistants, massages, sometimes free drugs (I only know of a few of those, including WeWork CEO), and the list goes on and on.
Generally the CEO’s performance may not be tied to their compensation, but nowadays the trend is to pay the majority with company stock to incentivize the CEO’s to actually give a crap.
In contrast, a cooperative organization would have to battle the Capitalist legal system to distribute wealth among the workers and not a leadership / executive team. If the cooperative had shareholders, they could force the co-op to limit worker pay to maximize shareholder returns. Capitalism does not want co-ops to succeed.
What do they actually do? Whatever the fuck they want, bc they are the RICH ELITE 1% that are fucking up our 2023 Earth.
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