Definition

Noun: 1. A senior corporate officer: An executive vice president is a high-ranking corporate officer who holds the title of vice president and is granted significant executive authority within an organization. This position is typically just below the president or chief operating officer (COO) in the corporate hierarchy and involves major decision-making responsibilities. 2. A role with specific operational oversight: The title often denotes responsibility for a major division or function of a company, such as finance, marketing, or operations, with the power to execute strategy and manage resources within that domain.

Usage Examples

• Noun:
  • The executive vice president of sales presented the new quarterly targets to the board.
  • She was promoted to executive vice president and will now oversee all international divisions.
  • Reporting directly to the CEO, the executive vice president has the authority to approve large capital expenditures.

Advanced Usage

• The role of an executive vice president can vary between organizations. In some companies, it may be the second-highest position, while in others, several executive vice presidents may report to a COO or president.
• The abbreviation EVP is commonly used in internal communications, email signatures, and organizational charts.
  • All department heads will report their findings to the EVP.

Variants and Related Words

• Senior Vice President (SVP): A vice president with high seniority and responsibility, often considered a rank just below Executive Vice President in some corporate structures.
• Vice President (VP): A broader title for a manager in charge of a major company function. An executive vice president is a specific, senior type of vice president.
• President: The corporate officer who typically leads an entire company or a major subsidiary, to whom an executive vice president often reports.

Synonyms

• Senior Executive
• Corporate Officer
• Division Head (when referring to the specific oversight role)

Related Phrases

• EVP & Chief Financial Officer: A common combined title indicating the person holds both the senior corporate officer rank of Executive Vice President and the specific functional role of CFO.
  • The EVP & Chief Financial Officer will review the annual budget.
• Office of the Executive Vice President: Refers to the administrative unit or staff supporting the individual in this role.

Noun

1. a vice president holding executive power