Etymology
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preside (v.)

"be set over others, have place of authority, direct and control," 1610s, from French présider "preside over, govern" (15c.), from Latin praesidere "stand guard; superintend," literally "sit in front of," from prae "before" (see pre-) + sedere "to sit," from PIE root *sed- (1) "to sit." Usually denoting temporary superintendence or direction.

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Definitions of preside

preside (v.)
act as president;
preside over companies and corporations
From wordnet.princeton.edu