forstjóra

Forstjóri is the Icelandic title for the chief executive officer (CEO) or managing director of a company or organization. The forstjóri is the highest-ranking executive responsible for the day-to-day management of the enterprise and for implementing the strategy approved by the board of directors.

Key responsibilities include overseeing operations and financial performance, guiding the management team, and ensuring effective governance, risk management, and regulatory compliance. The forstjóri represents the company to investors, customers, authorities and the public, and communicates strategy and results to stakeholders.

Appointment and accountability: The forstjóri is typically appointed by the board of directors and reports to the board. The term length varies; the board can remove the forstjóri. The role carries fiduciary duties to the company and its shareholders and requires sound judgment, integrity, and strategic leadership.

Qualifications and background: Candidates usually hold higher education in business, management or a related field, with substantial leadership experience. Knowledge of Icelandic corporate law and governance standards is common, as are strong financial and operational skills.

Variations and context: In Iceland, forstjóri is the standard term for the top executive in most companies. Some organizations use framkvæmdastjóri (executive director) or other titles; the exact scope of responsibilities can vary by legal form, sector, and size. In public or non-profit bodies, analogous positions may have different titles, but the core function remains: lead daily operations, execute strategy, and report to a governing board.