The board of directors is responsible for appointing and removing the CEO. When a new leader is needed, they'll either appoint a new one from within the company or conduct an external search. This process can take anywhere from a few months to a year.
Elected by Shareholders
In some cases, the shareholders of a corporation will directly elect the CEO. This is most common in small businesses or startups where there is no formal board of directors.
Chosen by the Founder
In the case of a startup or small business, the founder may retain control of the company and appoint themselves as the CEO.
Combination
In some cases, a combination of these methods is used. For example, the board of directors may appoint the CEO from a list of candidates recommended by the founder.
