What is VICE PRESIDENT?

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What does VICE PRESIDENT mean? VICE PRESIDENT meaning - VICE PRESIDENT definition - VICE PRESIDENT explanation. What is the meaning of VICE PRESIDENT? What is the definition of VICE PRESIDENT? What does VICE PRESIDENT stand for? What is VICE PRESIDENT meaning? What is VICE PRESIDENT definition?

A vice president (in British English: vice-president for governments and director for businesses) 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. In everyday speech, the abbreviation VP can be used.

In government, a vice president is a person whose primary responsibility is to act in place of the president on the event of the president's death, resignation or incapacity. Vice presidents are either elected jointly with the president as their running mate, or more rarely, appointed independently after the president's election.

Most governments with vice presidents have one person in this role at any time, although in some countries there are two or more vice presidents. If the president is not present, dies, resigns, or is otherwise unable to fulfill their duties, the vice president will generally serve as president. In many presidential systems, 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 hold 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 business, "vice president" refers to a management position. A vice president usually reports directly to the president or CEO of the company and is a member of the executive management team. Some corporations that use this term may have individuals with the title of vice president responsible for specific business divisions (e.g., Vice President for Sales and Marketing, Vice President for Finance, or Vice President for Human Resources). When there are several vice presidents in a company, these individuals are sometimes differentiated with titles denoting higher positions such as executive vice president and/or senior vice president with the remaining management team holding the title vice president. The title of assistant vice president or associate vice president is used in large organizations below vice president.

A corporate vice president is an older term that usually denotes a vice president that is named as a corporate officer by the board of directors. Not all vice presidents in a company in the modern business environment are named as an official corporate officer.