What is a 'Chairman'
A chairman is an executive elected by a company's board of directors that is responsible for presiding over board or committee meetings. The chairman ensures that the meetings run smoothly and remain orderly, and works at achieving a consensus in board decisions. The position is different than that of the chief executive officer (CEO), and can be either a non-executive (part-time) or executive (full-time) position.
BREAKING DOWN 'Chairman'
In some companies, the roles of CEO and chairman are combined. This has the effect of reducing transparency and accountability due to the reduced checks and balances created by having two separate positions with separate job functions.