Is a managing director an employee?

Is a managing director an employee?
Yes, almost always. However the term 'employee' generally means someone who has an employment contract with the firm, and this might not always be the case with a managing director - they might have a consulting agreement although that is probably less common.The term 'managing director' (which is used in many countries including the UK) generally means the same as 'chief executive officer' (a term that originated in the USA).As the title suggests, the managing director is a member of the board of directors, but may not be the chair of the board (in UK businesses these roles are usually split).The managing director in most businesses would be the most senior executive post: the person who leads the company on a day to day basis and reports to the board of directors. However note that in some professional services businesses the job title of 'managing director' is sometimes given to less senior people.