Page "Corporate title" Paragraph 4

A corporation often consists of different businesses, whose senior executives report directly to the CEO or COO.

If organized as a division then the top manager is often known as an Executive Vice President ( for example, Todd Bradley who heads the Personal Systems Group in Hewlett Packard ).

If that business is a subsidiary which has considerably more independence then the title might be known as Chairman and CEO ( for example, Philip I. Kent of Turner Broadcasting System in Time Warner ).