R. J. Reynolds

Richard Joshua "R. J." Reynolds (July 20, 1850 - July 29, 1918) was an American businessman and founder of the R. J. Reynolds Tobacco Company.

The son of a tobacco farmer, he worked for his father and attended Emory & Henry College from 1868 to 1870, eventually graduating from Bryant & Stratton Business College in Baltimore. He sold his share of the family business in 1874 and moved south to Winston-Salem, North Carolina to start his own tobacco company. Reynolds was a savvy businessman and a hard worker, and he quickly became one of the wealthiest citizens of Winston-Salem; eventually, he was the wealthiest person in the state of North Carolina. He died in 1918 of pancreatic cancer.

Biography

Early life

Reynolds was born on July 20, 1850, at Rock Spring Plantation near Critz, Patrick County, Virginia, to Nancy Jane Cox Reynolds and Hardin Reynolds, a tobacco farmer and slaveowner.

R.J. Reynolds Tobacco Company

In 1874, Reynolds sold his interest in the family tobacco business to his father and left Patrick County to start his own tobacco company. He needed a railroad hub for his business, and since there wasn't one in Patrick County, he went to the nearest one, Winston, NC. Winston and Salem were separate towns at that time. The story goes that he came riding into town on a horse, reading The New York Times, and dreaming of building a golf course somewhere in the rural part of the town. By 1875, Reynolds had established his tobacco manufacturing operation, and in the first year, it produced 150,000 pounds of tobacco. Although Winston-Salem alone had 15 other tobacco companies, Reynolds was able to distinguish himself through his business acumen and innovative techniques, including adding saccharin to chewing tobacco. By the 1890s, production had increased to millions of pounds annually.

Steven Goldstone

Steven F. Goldstone (born 1946) has managed Silver Spring Group, a private investment firm, since 2000. From 1995 until his retirement in 2000, Goldstone was chairman and chief executive officer of RJR Nabisco, Inc. (which was subsequently named Nabisco Group Holdings following the reorganization of RJR Nabisco, Inc.). Prior to joining RJR Nabisco, Inc., Goldstone was a partner at the Davis Polk & Wardwell law firm in New York City. He is chairman of the board of ConAgra Foods, Inc. and a director of Greenhill & Co., Retail DNA, Inc., Merck & Co., and New Castle Hotels. Mr. Goldstone also sits on the American Standard Companies board of directors.

Goldstone earned a law degree from New York University in 1970.

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Executive officer

An executive officer (often abbreviated XO) is generally a person responsible for running an organization, although the exact nature of the role varies depending on the organization.

Administrative law

While there is no clear line between executive or principal and inferior officers, principal officers are high-level officials in the executive branch of U.S. government such as department heads of independent agencies. In Humphrey's Executor v. United States, 295 U.S. 602 (1935), the Court distinguished between executive officers and quasi-legislative or quasi-judicial officers by stating that the former serve at the pleasure of the president and may be removed at his discretion. The latter may be removed only with procedures consistent with statutory conditions enacted by Congress. The decision by the Court was that the Federal Trade Commission was a quasi-legislative body because of other powers it had, and therefore the president could not fire an FTC member for political reasons. Congress can’t retain removal power over officials with executive function (Bowsher v. Synar). However, statutes can restrict removal if not purely executive (Humphrey’s executor), but can't restrict removal of purely executive officer (Myers v. United States, 272 U.S. 52 (1926)). The standard is whether restriction "impedes the president’s ability to perform his constitutional duty" (Morrison v. Olson, 487 U.S. 654 (1988)).

Chief executive officer

A chief executive officer (CEO in American English) or managing director (MD in British English) describes the position of the most senior corporate officer, executive, or administrator in charge of managing an organization. The CEO of a corporation or company typically reports to the board of directors and is charged with maximizing the value of the entity. Titles also often given to the holder of the CEO position include president and chief executive (CE).

Responsibilities

The responsibilities of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure. They can be far-reaching or quite limited and are typically enshrined in a formal delegation of authority.

Typically, the CEO/MD has responsibilities as a director, decision maker, leader, manager and executor. The communicator role can involve the press and the rest of the outside world, as well as the organization's management and employees; the decision-making role involves high-level decisions about policy and strategy. As a leader of the company, the CEO/MD advises the board of directors, motivates employees, and drives change within the organization. As a manager, the CEO/MD presides over the organization's day-to-day operations. The term refers to the person who takes all the decisions regarding the upliftment of the company, which includes all sectors and fields of the business like operations, marketing, business Development, finance, Human resources, etc. The CEO of a company is not necessarily the owner of the company.

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