Learn more about common financial (and startup) terms here. To learn more about Pilot, fill out the form below.
Officers are high-ranking employees of a corporation who are elected by the board of directors. Depending on where you incorporate, you could be required to have certain officers, such as a president or CEO, vice president, treasurer, and secretary.
As a founder, you may be able to take on several positions, including a director on the board and one (or several) officer roles. The officers may have specific responsibilities and powers, such as a fiduciary duty to the company and the ability to sign contracts on the company’s behalf.
Your company can add new officers as it expands and needs more dedicated leaders. Chief financial, operating, marketing, and technology officers are common titles. Investors might not become officers, but they could require a board seat, which can give them some control over hiring and firing officers.
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