Receivership is an extraordinary remedy, the purpose of which is to preserve property during the time needed to prosecute a lawsuit, if a danger is present that such property will be dissipated or removed from the jurisdiction of the court if a receiver is not appointed.
A corporate officer is a high-level management official of a corporation or an unincorporated business, hired by the board of directors of a corporation or the owner of a business, such as a president, vice president, secretary, financial officer or chief executive officer (CEO).
A 'company president' is commonly referred to as 'chief operating officer', and is accountable to the 'ceo'. The ceo may be the highest ranking executive, but he/she is still accountable to the board of directors. http://en.wikipedia.org/wiki/Company_president. http://en.wikipedia.org/wiki/Chief_Executive_Officer. And beergirllaura's answer is a good explanation of why the chairman of the board of directors may be the most powerful person in the company, regardless of titles. http://en.wikipedia.org/wiki/Board_of_directors.