We have 12 candidates for a 3 positions.
In this case, the positions are different of each other (it is not the same be VP-Marketing or VP-Finance).
This situation can be modeled as a permutation, of 12 in 3.
[tex]\begin{gathered} _nP_r=\frac{n!}{(n-r)!} \\ _{12}P_3=\frac{12!}{(12-3)!}=\frac{12!}{9!}=12\cdot11\cdot10=1320 \end{gathered}[/tex]Answer: The positions can be filled in 1320 different ways.
