<P> In the early 21st century, top executives typically had technical degrees in science, engineering, or law . As of March 2018, there were 26 female CEOs of S&P 500 companies, approximately 5% . </P> <P> The responsibility of an organization's CEO are set by the organization's board of directors or other authority, depending on the organization's legal structure . They can be far - reaching or quite limited and are typically enshrined in a formal delegation of authority . Typically, responsibilities include being a decision maker on strategy and other key policy issues, leader, manager, and executor . The communicator role can involve speaking to the press and the rest of the outside world, as well as to the organization's management and employees; the decision - making role involves high - level decisions about policy and strategy . As a leader of the company, the CEO or MD advises the board of directors, motivates employees, and drives change within the organization . As a manager, the CEO / MD presides over the organization's day - to - day operations . The term refers to the person who makes all the key decisions regarding the company, which includes all sectors and fields of the business, including operations, marketing, business development, finance, human resources, etc . The CEO of a company is not necessarily the owner of the company . </P> <P> In some countries, there is a dual board system with two separate boards, one executive board for the day - to - day business and one supervisory board for control purposes (selected by the shareholders). In these countries, the CEO presides over the executive board and the chairman presides over the supervisory board, and these two roles will always be held by different people . This ensures a distinction between management by the executive board and governance by the supervisory board . This allows for clear lines of authority . The aim is to prevent a conflict of interest and too much power being concentrated in the hands of one person . </P> <P> In the United States, the board of directors (elected by the shareholders) is often equivalent to the supervisory board, while the executive board may often be known as the executive committee (the division / subsidiary heads and C - level officers that report directly to the CEO). </P>

Who does the ceo of a company report to