DEFINITION of 'Upper Management'
Individuals and teams that are responsible for making the primary decisions within a company. Personnel considered to be part of a company's upper management are at the top of the corporate ladder, and carry a degree of responsibility greater than lower level personnel. Upper management are imbued with powers given by the company's shareholders or board of directors. Examples of upper management personnel include CEOs, CFOs and COOs.
BREAKING DOWN 'Upper Management'
Shareholders hold a company's upper management responsible for keeping a company profitable and growing. Because upper management personnel are often not seen by most employees, they are considered to be operate in an ivory tower outside of day-to-day operations.