Chair Of The Board - COB

They used to call Frank Sinatra "Chairman of the Board." He probably wouldn't love to learn that they've now shortened it to "chair."

In our times, it's chair of the board, or possibly chairperson of the board.

Every public company (or large private company) has a board of directors. It's a group of people who ultimately represent the interests of the shareholders. The CEO of any company is often seen as the big boss. However, technically, that job falls to the board. In practice, the CEO often has a lot of control on the board. But, at least theoretically, the board hires and fires the CEO and sets overall strategic direction.

The chair is the most important member of the board. He or she runs the meetings and, ultimately, has significant control over the direction of the company. Often times, the CEO also holds the position of chair. Sometimes they're split. But together, the chair and the CEO hold the most power in a company.