Praetor (Space Marine)
Before there was Chapter Masters, hell, before Chapters was even considered a thing by Big Boy G, there was the Praetor, which was a high rank of Space Marine used during the Great Crusade and Horus Heresy era for use in the Legiones Astartes, and functioned as the Legion's equivalent of a Chapter Master.
Overview
Praetors were commanders second only to their Primarchs in skill, battle prowess, and intellect in their respective Legions, consisting of First Captains, Chapter Masters, Lord Commanders, Great Khans, Warsmiths, and other titles. Ergo, their high rank means that they were effectively the second guy in charge in case the Legion's Primarch was knocked out or suffered critical existence failure. They most commonly commanded Chapters in their Legions.
Due to their high rank, they obviously wore really expensive shit. This includes Tartaros Pattern Terminator Armour, Cataphractii Pattern Terminator Armour, Gorgon Pattern Terminator Armour, Saturnine Pattern Terminator Armour and Artificer Armour. They were also armed with a bunch of gnarly weapons such as a Relic Blade, Power Spear, Power Lance, Power Halberd, Power Halberd, Thunder Hammer, Power Fist, Chain Spear, Heavy Chainsword, Chainscythe, Chain Glaive, Frost Blade, Terranic Greatsword and Power Scythes to name just the CQC weapons.
Crunch
These guys are the Chapter Masters of the pre-Heresy and Heresy eras. He packs Master of the Legion, so he'll unlock Rites of War and command squads while rolling twice on the warlord chart, but if all you wanted was MotL you'd take a cheap Delegatus instead. The real reason you'll take this guy is if you want a close-combat monster, and if you do want a monster, accept no substitutes; upgrades for Consuls quickly get into Praetor points levels for a pale shadow of Praetor effectiveness. The only real exception is if your Legion offers a special character who's better at the job.