The chief executive officer (CEO) is the member of the senior management team that is ultimately responsible for the financial and operational performance of a business. The CEO is largely concerned with developing and implementing strategies, as well as ensuring that all policies mandated by the board of directors are followed. All managers report to the CEO, with the exception of the internal audit department, which reports to the audit committee of the board of directors. The CEO reports to the board of directors. The CEO may take on additional titles, such as president and chairman of the board.