Vice president
Encyclopedia
A vice president is an officer in government
or business
who is below a president
(managing director) in rank. The name comes from the Latin
vice meaning 'in place of'. In some countries, the vice president is called the deputy president. A common colloquial term for the office is vee-pee, deriving from a phonetic interpretation of the abbreviation VP.
on the event of his or her death, resignation or incapacity. Vice presidents are either elected jointly with the president as his or her running mate
, elected separately, or appointed independently after the president's election.
Most, but not all, governments with vice presidents have only one person in this role at any time. If the president is not present, dies, resigns, or is otherwise unable to fulfill his or her duties, the vice president will generally serve as president. In many presidential system
s, the vice president does not wield much day-to-day political power, but is still considered an important member of the cabinet
. Several vice presidents in the Americas
held the position of President of the Senate
; this is the case, for example, in Argentina
, the United States
, and Uruguay
. The vice president sometimes assumes some of the ceremonial duties of the president, such as attending functions and events that the actual president may be too busy to attend; the Vice President of the United States
, for example, often attends funerals of world leaders on behalf of the President
. In this capacity, the vice president may thus assume the role of a de facto
symbolic head of state
, a position which is lacking in a system of government where the powers of head of state and government are fused.
, "vice president" refers to a rank in management. A trade union
may also elect a vice president. Most companies
that use this title
generally have large numbers of people with the title of vice president with different categories (e.g. vice president for finance); their closest analogy within the US federal government structure is therefore not the Vice President as such, but a Cabinet Secretary. A vice president in business usually reports directly to the President
or CEO
of the company. When there are several vice presidents in a company they are sometimes ranked by naming the highest ranking Senior Executive Vice President which is next to President, the second highest ranking Executive Vice President, then Senior Vice President and the remainder of the management team just VP. The title of Assistant Vice President or Associate Vice President or Assistant President or Associate President is typically used in large organizations as a subordinate rank to Vice President.
In large brokerage firms
and investment banks, there are usually several Vice Presidents in each local branch office, the title being more of a marketing approach for customers, than denoting an actual managerial position within the company.
A corporate vice president is rarely "second in line" to succeed the corporate president following death, dismissal, or resignation, though in the event of a sudden vacancy one or sometimes two of the vice presidents may act as president. New presidents are usually appointed by the board of directors
.
For example,
The primary responsibility of the Vice President of a club or organization is to be prepared to assume the powers and duties of the office of the President in the case of a vacancy in that office. If the office of President becomes vacant, the Vice President or in clubs with multiple Vice Presidents, the VP that occupies the highest ranking office, will assume the office of President, with the lower Vice Presidents to fill in the remaining Vice Presidencies, leaving the lowest Vice Presidency to be filled by either election, or appointment. Unless the bylaws of a club specifically provide of the Officer title of President-Elect, in which case, that would be the officer who would assume the powers and duties of the President upon vacancy of that office.
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
or business
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
who is below a president
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
(managing director) in rank. The name comes from the Latin
Latin
Latin is an Italic language originally spoken in Latium and Ancient Rome. It, along with most European languages, is a descendant of the ancient Proto-Indo-European language. Although it is considered a dead language, a number of scholars and members of the Christian clergy speak it fluently, and...
vice meaning 'in place of'. In some countries, the vice president is called the deputy president. A common colloquial term for the office is vee-pee, deriving from a phonetic interpretation of the abbreviation VP.
In government
In government, a vice president is a person whose primary responsibility is to replace the presidentPresident
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
on the event of his or her death, resignation or incapacity. Vice presidents are either elected jointly with the president as his or her running mate
Running mate
A running mate is a person running together with another person on a joint ticket during an election. The term is most often used in reference to the person in the subordinate position but can also properly be used when referring to both candidates, such as "Michael Dukakis and Lloyd Bentsen were...
, elected separately, or appointed independently after the president's election.
Most, but not all, governments with vice presidents have only one person in this role at any time. If the president is not present, dies, resigns, or is otherwise unable to fulfill his or her duties, the vice president will generally serve as president. In many presidential system
Presidential system
A presidential system is a system of government where an executive branch exists and presides separately from the legislature, to which it is not responsible and which cannot, in normal circumstances, dismiss it....
s, the vice president does not wield much day-to-day political power, but is still considered an important member of the cabinet
Cabinet (government)
A Cabinet is a body of high ranking government officials, typically representing the executive branch. It can also sometimes be referred to as the Council of Ministers, an Executive Council, or an Executive Committee.- Overview :...
. Several vice presidents in the Americas
Americas
The Americas, or America , are lands in the Western hemisphere, also known as the New World. In English, the plural form the Americas is often used to refer to the landmasses of North America and South America with their associated islands and regions, while the singular form America is primarily...
held the position of President of the Senate
President of the Senate
The President of the Senate is a title often given to the presiding officer of a senate, and is the speaker of other assemblies.The senate president often ranks high in a jurisdiction's succession for its top executive office: for example, the President of the Senate of Nigeria is second in line...
; this is the case, for example, in Argentina
Argentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
, the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, and Uruguay
Uruguay
Uruguay ,officially the Oriental Republic of Uruguay,sometimes the Eastern Republic of Uruguay; ) is a country in the southeastern part of South America. It is home to some 3.5 million people, of whom 1.8 million live in the capital Montevideo and its metropolitan area...
. The vice president sometimes assumes some of the ceremonial duties of the president, such as attending functions and events that the actual president may be too busy to attend; the Vice President of the United States
Vice President of the United States
The Vice President of the United States is the holder of a public office created by the United States Constitution. The Vice President, together with the President of the United States, is indirectly elected by the people, through the Electoral College, to a four-year term...
, for example, often attends funerals of world leaders on behalf of the President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
. In this capacity, the vice president may thus assume the role of a de facto
De facto
De facto is a Latin expression that means "concerning fact." In law, it often means "in practice but not necessarily ordained by law" or "in practice or actuality, but not officially established." It is commonly used in contrast to de jure when referring to matters of law, governance, or...
symbolic head of state
Head of State
A head of state is the individual that serves as the chief public representative of a monarchy, republic, federation, commonwealth or other kind of state. His or her role generally includes legitimizing the state and exercising the political powers, functions, and duties granted to the head of...
, a position which is lacking in a system of government where the powers of head of state and government are fused.
In business
In businessBusiness
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
, "vice president" refers to a rank in management. A trade union
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
may also elect a vice president. Most companies
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
that use this title
Corporate title
Publicly and privately held for-profit corporations confer corporate titles or business titles on company officials as a means of identifying their function in the organization...
generally have large numbers of people with the title of vice president with different categories (e.g. vice president for finance); their closest analogy within the US federal government structure is therefore not the Vice President as such, but a Cabinet Secretary. A vice president in business usually reports directly to the President
President
A president is a leader of an organization, company, trade union, university, or country.Etymologically, a president is one who presides, who sits in leadership...
or CEO
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the company. When there are several vice presidents in a company they are sometimes ranked by naming the highest ranking Senior Executive Vice President which is next to President, the second highest ranking Executive Vice President, then Senior Vice President and the remainder of the management team just VP. The title of Assistant Vice President or Associate Vice President or Assistant President or Associate President is typically used in large organizations as a subordinate rank to Vice President.
In large brokerage firms
Stock broker
A stock broker or stockbroker is a regulated professional broker who buys and sells shares and other securities through market makers or Agency Only Firms on behalf of investors...
and investment banks, there are usually several Vice Presidents in each local branch office, the title being more of a marketing approach for customers, than denoting an actual managerial position within the company.
A corporate vice president is rarely "second in line" to succeed the corporate president following death, dismissal, or resignation, though in the event of a sudden vacancy one or sometimes two of the vice presidents may act as president. New presidents are usually appointed by the board of directors
Board of directors
A board of directors is a body of elected or appointed members who jointly oversee the activities of a company or organization. Other names include board of governors, board of managers, board of regents, board of trustees, and board of visitors...
.
Levels in business administration
- Senior Executive Vice President (SEVP) = Deputy President
- Executive Vice President (EVP)
- Group Vice President (GVP)
- Senior Vice President (SVP)
- Corporate Vice President (CVP) - First Grade Executive Officer (or VP of old type company)
- First Vice President (FVP)
- Vice President (VP)
- Assistant Vice President or Associate Vice President (AVP)
For example,
- Microsoft: President - EVP - SVP - CVP
- General Motors: President - EVP - GVP - SVP - GM VP(=CVP)
| Rank | U.S. Executive Officer | U.K. Executive Officer |
|---|---|---|
| 1 | President | Managing Director |
| 2 | Deputy President or SEVP or EVP | Deputy Managing Director |
| 3 | EVP or GVP or SVP | Executive Director |
| 4 | SVP or CVP | Director |
| 5 | CVP or VP (old type company) | Deputy Director |
In clubs and other related associations
In most clubs as well as other organizations, one or multiple Vice Presidents are elected by the members of the organization; usually numbering the vice presidencies to prevent confusion as to who may preside or succeed to the office of president upon vacancy of that office, for example: 1st Vice President, 2nd Vice President, and so on. Although in some cases vice presidents are given titles due to their specific responsibilities, for example: Vice President of Operations, Finance, etc.The primary responsibility of the Vice President of a club or organization is to be prepared to assume the powers and duties of the office of the President in the case of a vacancy in that office. If the office of President becomes vacant, the Vice President or in clubs with multiple Vice Presidents, the VP that occupies the highest ranking office, will assume the office of President, with the lower Vice Presidents to fill in the remaining Vice Presidencies, leaving the lowest Vice Presidency to be filled by either election, or appointment. Unless the bylaws of a club specifically provide of the Officer title of President-Elect, in which case, that would be the officer who would assume the powers and duties of the President upon vacancy of that office.