What does the CEO do?

The CEO is the highest-ranking executive in a company that works day to day. What their role entails largely has to do with the size of the company. In general, it will deal with strategic planning, protecting shareholders, and public relations.
The board of directors are chosen, or are themselves, shareholders. They act as a check on the CEO, and possess the power to overrule, hire, and fire the CEO. The board usually meets only once a quarter and have other jobs outside the organization. A large part of being the CEO is representing the company. The CEO is more of a public relations and administrative role than most people realize.
The CEO will typically be responsible for hiring and managing other executives. In a small company, the CEO could manage things more directly and have contact with everyone, but that is impossible with a large organization. The executives below the CEO manage areas of the business like finance, accounting, and marketing.
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