The president, currently Frank-Walter Steinmeier, is the head of state and invested primarily with representative responsibilities and powers. He is elected by the "Bundesversammlung" (federal convention), an institution consisting of the members of the "Bundestag" and an equal number of state delegates. The second-highest official in the German order of precedence is the "Bundestagspräsident" (president of the "Bundestag"), who is elected by the "Bundestag" and responsible for overseeing the daily sessions of the body. The third-highest official and the head of government is the chancellor, who is appointed by the "Bundespräsident" after being elected by the party or coalition with the most seats in the "Bundestag". The chancellor, currently Angela Merkel, is the head of government and exercises executive power through their Cabinet.