Whether you like it or not, you are an extension of your Brand. Back in the day, you could get by without having an executive portrait but those days are dust in the wind. Social media all but ensures that you are visually tied to your brand.
You're hosting an event...your annual fundraiser or special corporate function. How do you choose the right photographer for the job? Event photography is a niche within the larger subset of commercial photography. Your search should begin there.
If you are a business owner or entrepreneur, your professional photo is an important piece of your overall brand. Online bios, speaking engagements, website profiles, annual reports, they all make use of the executive portrait.