In some European and Asian countries, there are two separate boards, an executive board (or management board) for day-to-day business and a supervisory board (elected by the shareholders and employees) for supervising the executive board. In these countries, the chairman of the supervisory board is equivalent to the chairman of a single-tier board, while the chairman of the management board is reckoned as the company's CEO or managing director. These two roles are always held by different people.
In some European and Asian countries, there are two distinct boards: an executive board (or management board) for daily operations and a supervisory board (elected by shareholders and employees) to oversee the executive board. The chairman of the supervisory board is equivalent to the chairman of a single-tier board, while the chairman of the management board is considered the company's CEO or managing director. These two positions are always held by different individuals.