Captain is the leadership position of the Black Company. The captain is often called the Old Man by Company members. Military companies are usually between 100 - 300 soldiers, but the term is used regardless of the size of the Black Company. The second-in-command position is lieutenant.

The captain is an elected position. Unlike membership in the Company the captainship can be resigned, though the resignation can be rejected.

During times when the Company's numbers are extremely small the captain may also hold other offices. For example, Croaker was both captain and annalist when the Company traveled south and during its early service to Taglios.

In the Black Company series six different characters have held the position of captain of the Black Company.

  • The Captain
  • The Lieutenant
    • Previous name unknown. Although elected captain he continued to be called the Lieutenant. Led the Company during its service to Darling and the White Rose Rebellion.
  • Croaker
    • Led the Company twice, first during its journey south and early service to Taglios. After being presumed dead he again led the Company until he was imprisoned under the Glittering Plain.
  • Lady
    • Unofficially assumed captainship and rebuilt the military strength of the Company after Croaker's presumed death and the isolation of other officers during the Siege of Dejagore. She relinquished the position after Croaker's return.
  • Sleepy
  • Suvrin
    • Led the remaining Company back to Hsien.