President = Leadership position, therefore Art is a leader in the company. My guess is Art is in charge of operations and the implementation of policies. Just me guessing though.
A president's responsibilities may differ depending on the type of business or the size of the business. They are typically responsible for logistics and business operations and confirming the company's policies are implemented effectively.
Some of the common roles for a president include:
Guiding and leading managers Implementing the company strategy Providing recommendations to the board of directors Reporting feedback to the board of directors Handling budgeting and finances