In this article, we explored the roles and responsibilities of the Chairman of the Board of Directors, and some of the differences between the positions of CEO and Chairman. The Chairman of the Board can take on many roles such as leader, guide, mentor, and spokesperson. The Chairman of the Board generally works very closely with the other directors on the board and with CEO and other top-officers to help the corporation prosper. You should now have a better idea about the importance of the Chairman of the Board – the person that often acts like the captain of a ship.

While Frank Sinatra didn’t hold an official Chairman position at Reprise Records, he was nicknamed “Chairman of the Board” because of the prominence of the title. The role of Chairman of the Board can be a difficult one, and sometimes the Chairman has to take a difficult position that conflicts with others’ viewpoints. The famous words sung by Frank Sinatra, "I did it my way," often hold true in the corporate world, all the way to the top – to the Chairman of the Board of the biggest corporations in the world.