Everything about Vice-president totally explained
"VP" redirects here. For other uses, see VP (disambiguation).
A
vice president is an
officer in
government or
business who is below a
president in rank. The name comes from the
Latin vice meaning 'in place of'. In some countries, the vice president is called the
deputy president. In
American slang, the
Vice President of the United States is sometimes referred to as the
V. P. or the
veep, while the wife of a vice president may be known as the
Second Lady.
Vice presidents in government
In politics, a vice president is a person whose primary job is to replace the
president on the event of his or her death or resignation. Vice presidents are either elected jointly with the president as his or her
running mate, elected separately, or appointed independently after the president's election.
Governments with vice presidents generally have only one person in this role at any time. If the president isn't present, dies, resigns, or is otherwise unable to fulfill his or her duties, the vice president will generally serve as president. In many
presidential systems, the vice president doesn't wield much day-to-day political power, but is still considered an important member of the
cabinet. Several vice presidents in the
Americas hold the position of
President of the Senate; this is the case, for example, in
Argentina, the
United States, and
Uruguay. The vice president sometimes assumes some of the ceremonial duties of the president, such as attending functions and events that the actual president may be too busy to attend; the
Vice President of the United States, for example, often attends funerals of world leaders on behalf of the
President. In this capacity, the vice president may thus assume the role of a
de facto symbolic
head of state, a position which is lacking in a system of government where the powers of head of state and government are fused.
The vice-president's position can mean different things in different democracies. Most states with
parliamentary systems don't have vice presidents, but instead name another office-holder – often the president of the upper house of parliament or even the
prime minister – to act as effective vice president. However, in
India, the
Vice President also plays the role of the chairman of the upper house, the
Rajya Sabha. In the
Republic of Ireland, a collective vice presidency exists called the
Presidential Commission, made up of the chairmen of both houses of the
Oireachtas (parliament), along with the Irish Chief Justice. In
Germany, the
de facto vice president is the
President of the Bundesrat (upper house of parliament), in
Poland it's the
Marshal of the Sejm (lower house), and in
France it's the speaker of the
Senate.
India is a country with a parliamentary system that does have a
Vice President and that individual presides over the upper chamber of the
Parliament of India. In
Russia, the
Prime Minister serves as
de facto vice president, although he or she's much more power than the
Vice President of the United States.
Vice presidents in business
In
business, vice-president refers to a rank in management. A
trade-union may also elect a vice-president. Most
companies that use this
title generally have large numbers of people with the title of vice president with different types of vice president (for example vice president for finance). A vice president in business usually reports directly to the president or
CEO of the company. When there are several vice presidents in a company they're sometimes ranked by naming the highest ranking Executive VP, the second highest ranking Senior VP, and the remainder of the management team just VP. There are usually several SVPs in one company, when that title is used. There can also be more than one EVP.
In large
brokerage firms and
investment banks, there are usually several VPs in each local branch office, the title being more of a marketing approach for customers, than denoting an actual managerial position within the company.
A corporate vice-president is rarely "second in line" to succeed the corporate president following death or resignation. Such decisions are usually left up to the
board of directors.
Further Information
Get more info on 'Vice-president'.
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