A chief executive officer ( CEO ), also known as a chief executive or managing director , is the top-ranking corporate executive charged with the management of an organization , usually a company or a nonprofit organization .
51-563: Emmanuel " Manny " Roman (born 27 August 1963) is a French financial executive. He is the chief executive officer (CEO) and a managing director of PIMCO , one of the world’s premier fixed income investment managers, based in Newport Beach , California. In 2011, he was named by the Evening Standard as one of London's 1000 most influential people. Roman grew up in Paris, the only child of
102-485: A company's business decisions, including those in operations, marketing, business development , finance, human resources , etc. The use of the CEO title is not necessarily limited to describing the head of a company. For example, the CEO of a political party is often entrusted with fundraising, particularly for election campaigns. In some countries, there is a dual board system with two separate boards, one executive board for
153-417: A discretionary investment manager, as co-CEO and later played a key role in its listing in 2007. In 2010, Roman orchestrated the sale of GLG to Man Group , one of the world's largest publicly traded alternative asset managers, and was named as president and chief operating officer. Roman was added to Man Group's executive board in 2011 and named as CEO the following year. While at Man Group, Roman engineered
204-402: A facade of charm and eloquence. Traits such as courage and risk-taking, generally considered desirable, are often found alongside these psychopathic tendencies. Tara Swart, a neuroscientist at MIT Sloan School of Management , has suggested that individuals with psychopathic traits thrive in chaotic environments and are aware that others do not. As a result, they may intentionally create chaos in
255-613: A fire broke out in a plant room on the top floor of the hospital. When the fire was at its peak, 125 firefighters and 16 ambulances were in attendance. Over the period of the fire, 111 fire appliances attended with 56 officers including the assistant commissioner. The smoke was visible for miles around. All 200 staff, outpatients, and 79 inpatients were evacuated to a local church and the neighbouring Royal Brompton Hospital , some carried on mattresses by emergency responders and doctors. Five operating theatres and at least two wards were put out of action. Two patients were undergoing surgery in
306-462: A formal delegation of authority regarding business administration . Typically, responsibilities include being an active decision-maker on business strategy and other key policy issues, as well as leader , manager, and executor roles. The communicator role can involve speaking to the press and to the public, as well as to the organization's management and employees; the decision-making role involves high-level decisions about policy and strategy. The CEO
357-461: A global investment banking, securities and investment management firm, in 1987 where he spent the first 18 years of his career serving as co-head of worldwide global securities and co-head of the European equity division. From 1996 to 2000 he served as co-head of Worldwide Equity Derivatives and was promoted to co-head of Worldwide Global Securities Services in 2000. In 2005, Roman joined GLG Partners ,
408-539: A number of successful acquisitions including Connecticut-based Silvermine Capital, Boston-based quantitative equity manager Numeric Holdings and US fund of hedge funds Pine Grove. In October 2016, Roman was named CEO of PIMCO , a global investment management firm headquartered in Newport Beach, California. PIMCO provides mutual funds, and other portfolio management and asset allocation products. As CEO, he serves on PIMCO's Executive Committee and has executive oversight of
459-810: A related development, British politician Andy McDonald received praise for educating a CEO on the role of trade unions. This occurred as the restaurant chain McDonald's faced scrutiny in the UK Parliament over allegations of a toxic workplace culture. The Royal Marsden NHS Foundation Trust The Royal Marsden Hospital is a specialist National Health Service oncology hospital in London based at two sites in Brompton , in Kensington and Chelsea , and Belmont in Sutton . It
510-474: A sickness absence rate of 2.85%. 89% of staff recommend it as a place for treatment and 71% recommended it as a place to work. In March 2016 the trust was ranked third in the Learning from Mistakes League . The trust hopes to raise 45% of its income from private patients and other non-NHS sources in 2016/17 and is trying to raise its income from paying patients from £90m to £100m. According to LaingBuisson it
561-678: A son with his current partner, Topaz Page-Green , a model and activist. He is President of The PIMCO Foundation and became a member of the Morgan Stanley Institute for Sustainable Investing Advisory Board in January, 2020. He also currently sits on the board of trustees for the Tate Foundation , the University of Chicago and the Board of Directors for The Paris Review . He previously sat on
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#1732855223411612-596: A source of criticism following a dramatic rise in pay relative to the average worker's wage . For example, the relative pay was 20-to-1 in 1965 in the US, but had risen to 376-to-1 by 2000. The relative pay differs around the world, and, in some smaller countries, is still around 20-to-1. Observers differ as to whether the rise is due to competition for talent or due to lack of control by compensation committees. In recent years, investors have demanded more say over executive pay. Lack of diversity amongst chief executives has also been
663-499: A source of criticism. In 2018, 5% of Fortune 500 CEOs were women. In 2023 the number rose to 10.4% of for Women CEO's of Fortune 500 companies . The reasons for this are explained or justified in various ways, and may include biological sex differences, male and female differences in Big Five personality traits and temperament, sex differences in psychology and interests, maternity and career breaks, hypergamy , phallogocentrism ,
714-549: Is Chair of the Lunchbox Fund , a Guiding Partner of Feeding America , and a board member of the Global FoodBanking Network . Chief executive officer CEOs find roles in various organizations, including public and private corporations , nonprofit organizations , and even some government organizations (notably state-owned enterprises ). The governor and CEO of a corporation or company typically reports to
765-662: Is managed by The Royal Marsden NHS Foundation Trust and supported by The Royal Marsden Cancer Charity . In addition to providing cancer diagnosis, treatment and care, The Royal Marsden is a major centre for cancer research and teaching. It has a close affiliation with the Institute of Cancer Research , which originated as the hospital's research department and is located alongside the hospital in Brompton and Belmont. Through its subsidiary The Royal Marsden School , it offers undergraduate and postgraduate degrees in cancer care validated by
816-402: Is often used in lieu of chief executive officer. Business publicists since the days of Edward Bernays (1891–1995) and his client John D. Rockefeller (1839–1937) and even more successfully the corporate publicists for Henry Ford , promoted the concept of the " celebrity CEO". Business journalists have often adopted this approach, which assumes that the corporate achievements, especially in
867-418: Is sometimes included as one such subordinate executive officer, but, as suggested by Anthony Johndrow, CEO of Reputation Economy Advisors, it can also be seen as "simply another way to add emphasis to the role of a modern-day CEO – where they are both the external face of, and the driving force behind, an organization culture". In the US, the term "chief executive officer" is used primarily in business, whereas
918-427: Is tasked with implementing the goals, targets and strategic objectives as determined by the board of directors. As an executive officer of the company, the CEO reports the status of the business to the board of directors, motivates employees, and drives change within the organization. As a manager, the CEO presides over the organization's day-to-day operations. The CEO is the person who is ultimately accountable for
969-682: Is the most commercially orientated NHS hospital. It increased private patient income by 13% from 2014 to 2016 to £77 million. In 2018-19 it made £121 million through its private patient units, more than a quarter of its total income, and about 18% of all the private healthcare carried out in England by the NHS. This growth was led by imaging and robotic surgery. In 2019-20 50% of the trust's total revenue, £463 million, came from NHS work. 9% came from Kuwait. Payments from health insurance firms accounted for 16%, and self-pay patients for 2%. The main commercial rival
1020-532: Is to prevent a conflict of interest and too much power being concentrated in the hands of one person. In the United States, the board of directors (elected by the shareholders ) is often equivalent to the supervisory board, while the executive board may often be known as the executive committee (the division/subsidiary heads and C-level officers that report directly to the CEO). In the United States, and in business,
1071-541: The Dictionary says that the use of "CEO" as an acronym for a chief executive officer originated in Australia , with the first attestation being in 1914. The first American usage cited is from 1972. The responsibilities of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's structure. They can be far-reaching or quite limited, and are typically enshrined in
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#17328552234111122-586: The University of East Anglia . The Royal Marsden's Brompton site is adjacent to the Royal Brompton Hospital , in Fulham Road . As of 2020 , this site had 112 inpatient beds and 7 operating theatres . The Belmont site is in the far south of Greater London , adjacent to the former Sutton Hospital, High Down and Downview Prisons, and the Metropolitan Green Belt . This site houses some of
1173-585: The acquisition of Gurtin , a specialist municipal bond manager, and the integration of Allianz Real Estate to create PIMCO Prime Real Estate . PIMCO now has a significant private strategies business encompassing $ 100 billion of assets under management. PIMCO has over 3,400 employees working in 25 offices across the globe and $ 1.80 trillion in assets under management , as of 31 March, 2023. Roman married Barrie Sardoff in 1992, with whom he has two daughters. They divorced in 2016. Along with collecting art and wine, he supports British football club, Arsenal . Roman has
1224-410: The board of directors and is charged with maximizing the value of the business, which may include maximizing the profitability , market share , revenue , or another financial metric. In the nonprofit and government sector, CEOs typically aim at achieving outcomes related to the organization's mission, usually provided by legislation . CEOs are also frequently assigned the role of the main manager of
1275-533: The 1890s, girls were kept at the Banstead Road site and boys were kept at a site in Brighton Road, which was built in 1851. The Brighton Road site later became Belmont workhouse and Belmont Psychiatric hospital, before being demolished in the 1980s. The Banstead Road site later became a sanatorium , before the southern half of the site was acquired by Royal Marsden in 1962. On 2 January 2008, just before 1:30 pm,
1326-760: The Board of Directors for Societe Generale and publisher Penguin Random House and served as a trustee of the Hedge Fund Standards Board as well as the Royal Marsden NHS Foundation Trust . In addition to his board seats, Roman has made significant investments in support of the University of Chicago and the Tate Foundation. Committed to a philosophy of life-long learning, he is a donor to many institutions, including Columbia University and
1377-535: The CEO is also the president, is the vice president (VP). An organization may have more than one vice president, each tasked with a different area of responsibility (e.g., VP of finance, VP of human resources). Examples of subordinate executive officers who typically report to the CEO include the chief operating officer (COO), chief financial officer (CFO), chief strategy officer (CSO), chief marketing officer (CMO) and chief business officer (CBO). The public relations -focused position of chief reputation officer
1428-626: The ICR, and some facilities are shared between the organisations, such as the Joint Department of Physics, which operates the linac . The hospital also participates in wider research collaborations, including a major partnership with Imperial College London in the Imperial College Academic Health Science Centre. The Royal Marsden was the first hospital in the world dedicated to the study and treatment of cancer . It
1479-608: The London School of Economics. Roman was awarded the Chicago Booth Distinguished Alumni Award in 2019 in recognition of outstanding professional achievement. Roman’s interest in behavioral science led to the creation of the Roman Family Center for Decision Research at the University of Chicago Booth School of Business in 2023. He is also dedicated to helping families and children facing hunger, and
1530-695: The Royal Marsden Hospital in recognition of the vision and commitment of its founder. In response to the need to expand to treat more patients and train more doctors, a second hospital in Sutton , London, was opened in 1962. The original buildings on the Sutton site were first used as the Banstead Road branch of the South Metropolitan District School, which was a 'district' school for children of workhouse inmates in south London. In
1581-525: The UK, chief executive and chief executive officer are used in local government , where their position in law is described as the "head of paid service", and in business and in the charitable sector . As of 2013 , the use of the term director for senior charity staff is deprecated to avoid confusion with the legal duties and responsibilities associated with being a charity director or trustee, which are normally non-executive (unpaid) roles. The term managing director
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1632-422: The arena of manufacturing, are produced by uniquely talented individuals, especially the "heroic CEO". In effect, journalists celebrate a CEO who takes distinctive strategic actions. The model is the celebrity in entertainment, sports, and politics – compare the " great man theory ". Guthey et al. argues that "...these individuals are not self-made, but rather are created by a process of widespread media exposure to
1683-452: The artists Philippe Roman and Véronique Jordan Roman. He attended École Alsacienne and earned a bachelor's degree in applied mathematics from the University of Paris IX Dauphine in 1985. He later received an MBA in Finance and Econometrics from the University of Chicago Booth School of Business . Roman has over 30 years of experience in the investment industry. He joined Goldman Sachs ,
1734-617: The case of a partnership , an executive officer is a managing partner, senior partner, or administrative partner. In the case of a limited liability company , an executive officer is any member, manager, or officer. Depending on the organization, a CEO may have several subordinate executives to help run the day-to-day administration of the company, each of whom has specific functional responsibilities referred to as senior executives, executive officers or corporate officers. Subordinate executives are given different titles in different organizations, but one common category of subordinate executive, if
1785-450: The day-to-day business and one supervisory board for control purposes (selected by the shareholders). In these countries, the CEO presides over the executive board and the chairperson presides over the supervisory board, and these two roles will always be held by different people. This ensures a distinction between management by the executive board and governance by the supervisory board. This allows for clear lines of authority. The aim
1836-492: The executive officers are usually the top officers of a corporation, the chief executive officer (CEO) being the best-known type. The definition varies; for instance, the California Corporate Disclosure Act defines "executive officers" as the five most highly compensated officers not also sitting on the board of directors. In the case of a sole proprietorship , an executive officer is the sole proprietor. In
1887-562: The existence of old boy networks , tradition, and the lack of female role models in that regard. Some countries have passed laws mandating boardroom gender quotas. In 2023 Rockefeller Foundation awarded a grant to Korn Ferry to research strategies and then action a plan to help more women to become CEO's. There are contentious claims that a significant number of CEO's have psychopathic tendencies, often characterized by power-seeking behavior and dominance. These individuals can often conceal their ruthlessness and antisocial behavior behind
1938-518: The firm's client and business areas, including broad strategy-setting and resource management. Under Roman’s stewardship of PIMCO, the firm has expanded its approach to fixed income investing, including in private equity and private capital, and greatly increased its investments in technology. During Roman’s tenure, PIMCO opened a number of new global offices and built a significant presence in Austin, TX. The firm also completed numerous partnerships, including
1989-689: The hospital's large diagnostic and radiotherapy equipment, including the UK's only combined MR - Linac . The Royal Marsden provides diagnostic services, treatment and care for adults and children with cancers, as inpatients and outpatients, or as day care. 50,000 people are treated at the Royal Marsden every year. As of 2020 , the Care Quality Commission reported that the Royal Marsden had 219 inpatient beds, 70 day care beds, and 513 outpatient clinics. The Royal Marsden works in collaboration with The Institute of Cancer Research (ICR), which
2040-534: The hospital. The Royal Marsden's main lecture theatre is named in honour of consultant radiotherapist Julian Bloom. The Royal Marsden Hospital is operated by an NHS Foundation Trust . Formed in April 2004, it was one of the first NHS Foundation Trusts. It was named by the Health Service Journal as one of the top hundred NHS trusts to work for in 2015. At that time it had 3528 full-time equivalent staff and
2091-550: The operating theatres in the basement and had to be evacuated. Two firefighters and one member of staff suffered slight smoke inhalation but there were no other casualties or injuries. They were taken to another hospital for treatment. The entire roof of the Chelsea Wing of the hospital was burned through, and the top floor was also affected, but a hospital official said that damage was less than thought and no research documentation had been lost. The surgeon William Ernest Miles
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2142-404: The opportunity to study and research the disease. The hospital quickly outgrew its original premises as it became apparent that some patients required inpatient care. It moved locations several times during the 1850s until its benefactors decided to find a permanent solution. Funds were raised to build a dedicated new building on a tract of land in Brompton along the Fulham Road . The design
2193-761: The organization and the highest-ranking officer in the C-suite . The term "chief executive officer" is attested as early as 1782, when an ordinance of the Congress of the Confederation of the United States of America used the term to refer to governors and other leaders of the executive branches of each of the Thirteen Colonies . In draft additions to the Oxford English Dictionary published online in 2011,
2244-409: The point that their actions, personalities, and even private lives function symbolically to represent significant dynamics and tensions prevalent in the contemporary business atmosphere". Journalism thereby exaggerates the importance of the CEO and tends to neglect harder-to-describe broader corporate factors. There is little attention to the intricately organized technical bureaucracy that actually does
2295-409: The term "executive director" is used primarily in the not-for-profit sector. These terms are generally mutually exclusive and refer to distinct legal duties and responsibilities. The CEO is the highest-ranking executive in a company, making corporate decisions, managing operations, allocating resources, and serving as the main point of communication between the board of directors and the company. In
2346-457: The work. Hubris sets in when the CEO internalizes the celebrity and becomes excessively self-confident in making complex decisions. There may be an emphasis on the sort of decisions that attract the celebrity journalists . Research published in 2009 by Ulrike Malmendier and Geoffrey Tate indicates that "firms with award-winning CEOs subsequently underperform, in terms both of stock and of operating performance". Executive compensation has been
2397-790: The workplace. This perspective is explored in the book Snakes in Suits , co-authored by Robert D. Hare . However, Scott Lilienfeld has argued that the attention given to psychopathy in the workplace by both the media and scholars has far exceeded the available scientific evidence. Emilia Bunea, writing in Psychology Today , has linked psychopathic traits in managers to workplace bullying , employee dissatisfaction, and turnover intentions. Despite this, Bunea cautions that excessive worry about supposed psychopathic managers could discourage individuals from pursuing careers in corporations and deter employees from addressing issues with difficult bosses. In
2448-534: Was appointed to the hospital in 1899 and at the age of 60 was forced to retire, much against his will. In 1908, Thomas Horder , later raised to the peerage , was appointed as the hospital's first physician. Professor of radiotherapy at the University of London David Waldron Smithers chaired the committee that constructed and established the Surrey branch of the Marsden, which was opened in 1963. He led radiation oncology at
2499-465: Was by Messrs John Young & Son . The hospital was granted its royal charter of incorporation by King George V in 1910 and became known as The Cancer Hospital (Free). This was subsequently changed by King Edward VIII to include the word ‘Royal’. When the National Health Service was formed in 1948, the Royal Marsden became a post-graduate teaching hospital. In 1954, it was renamed
2550-480: Was founded as the Free Cancer Hospital in 1851 by William Marsden at 1, Cannon Row , Westminster . Marsden, deeply affected by the death of his wife Elizabeth Ann from cancer, resolved to classify tumours, research the causes and find new treatments. The hospital at first consisted solely of a dispensary and the drugs prescribed were palliative and aimed at treating symptoms, but it allowed William Marsden
2601-400: Was founded in 1909 as the hospital's research department. The ICR legally separated from the hospital when the latter became part of the NHS in 1948, but the two retained close ties. The ICR's laboratories are located alongside the Royal Marsden in Brompton and Belmont, and the two organisations produce a joint research strategy. Many of the hospital's consultants also have research roles with
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