To clarify the corporate structure generally: Shareholders: They are owners and elect the Board of Directors. There could be different classes of shareholder

To clarify the corporate structure generally: Shareholders: They are owners and elect the Board of Directors. There could be different classes of shareholders, some with/without voting rights. Board of Directors: They generally vote on the corporate officers and authorize corporate action outside the day to day control/operation of the business. Voting rights, powers, terms of directorships and the like are typically defined in corporate documents, and if none exist, then generally this is all defined by a given State statute/code. Officers: Titles include President, CEO, COO, CFO, Treasurer, Secretary, ect... These people are in control of the day to day operations of the company. Again powers, terms and the like are typically defined in corporate documents, and if none exist, generally are established by default by a given State statute/code. This is generally the default structure throughout all the states. All these things can be modified/defined in greater detail through shareholder agreements, by-laws, restrictive agreements, ect...