What does a CEO actually do all day?

Retuers journalist Axel Threlfall follows SAP Co-CEO Jim Snabe around for the day to see what a day in the life is like. Courtesy Reuters.

Bill Gates said information overload is one of the hardest things about the job. Source: News Limited

THEY have the best office in the building and make you nervous in the lift, but do you know what your boss actually does all day?

Here's what those executives with mysterious acronyms in their titles are really responsible for.

Chief Executive Officer - CEO

It goes without saying the CEO is top dog. They take glory when things are good and carry the can when things are bad. But regardless of the industry, being CEO is all about the big picture.

Watermark Search International managing partner Nick Waterworth specialises in head hunting top executives and said although the role varies depending on whether it's a public, private or state-owned company, there are some common threads.

"They're the top executive, ultimately responsible for running the organisation. That means achieving profitability, safety, ensuring good practice and governance, the wellbeing of staff and so on. They're ultimately responsible for developing and working towards the strategy of the organisation and achieving those goals."

How this is done depends on the company, but ultimately the CEO is working on leading and defining the culture of the business.

"Some are required to fix a problem, others to keep growth going, others to double the size of the organisation in the next three years, it's not one size fits all," Mr Waterworth said.

Yahoo! CEO Marissa Mayer snapped up Tumblr, posed for Vogue and banned working from home as CEO. Picture: AFP Source: AFP

Their personality is also crucial as they have a huge impact on the culture of an organisation and set the tone for how staff dress and act in the office.

Yahoo CEO Marissa Mayer made headlines when she posed for Vogue, banned working from home and bought Tumblr as Yahoo! CEO, while Richard Branson's flamboyance is now part of Virgin's company culture.

TED CEO, Ted Devine said working together is a huge part of leadership in his company, where there are no barriers or heirachy in the office.

"Everybody can talk to everybody. Everybody can participate in a decision. We work together, and that's very important in leadership," he said.

Highland Consulting Group CEO, Roxana Hewertson said it's not just about being smart, but being good with people as well.

"None of this is rocket science. It's all about human behaviour," she said. "Those dollar signs are attached to people. How well you manage your people resources [is] going to make all the difference. Everything I do starts with self-awareness as a leader."

Xerox CEO Ursula Burns worked her way up after starting at the company as an intern. Picture: Getty. Source: Supplied

Despite being top of the tree, Certified Practising Accountants CEO Alex Malley said it can be a lonely job.

"When you first become [CEO] it's like your face has changed. People speak to you differently. They speak in more measured ways. I like straight communication. One of the challenges is allowing people to believe you're just a normal person."

Ultimately, he said every day in the job is different and you need the ability to be both a "counsellor" and "clinical" with staff.

"You see a circumstance is humanly difficult and you've got to deal with it. You see an issue with good people not getting good results and you've got to handle it," he said.

Richard Branson has made high profile stunts part of his job description as CEO. Source: Supplied

But it's not all about the CEO. Here's what those other executive roles entail.

Chief Operating Officer - COO

If the CEO is Batman, the COO is Robin. They're the ones that are completely across back office functions, leaving the CEO free to think about the big picture.

"They're the non-sales and marketing side of the organisation. Very process driven, very organised. They often come from a finance background. That's their skill, organisation, efficiency, standardisation of procedures those types of things," Mr Waterworth said.

In most companies a COO is responsible for looking after the supply chain, any production or technology issues, finance and making sure everyone has the right tools to do their jobs.

Facebook's COO Sheryl Sandberg is perhaps the most famous number two in business, bringing her prodigious experience to bear alongside Mark Zuckerberg.

She has previously worked for Google, as chief of staff under Bill Clinton and topped bestseller lists with her book Lean In, but now uses her vast network of politicians, celebrities and business contacts to advance Facebook.

She's responsible for ad revenues, marketing and day-to-day operations while Zuckerberg looks after product and engineering.

She's so good at the job, 'a Sheryl' has become the hottest commodity in Silicon Valley, with other tech companies seeking to replicate the leadership team Facebook has, CNN reports.

Facebook's COO Sheryl Sandberg wrote a book called Lean In and has been ranked the 6th most powerful woman in the world by Forbes. Pic: AP. Source: AP

Chief Financial Officer - CFO

Once called Finance Directors, CFOs look after the financial health of a business, including producing annual reports, forecasts and keeping the budget in check. They technically come under the CEO, however the crucial nature of their role also means they often have a direct line to the board.

"It's very important this person has an open dialogue with the chair. They are certainly in the top two or three executives in companies," Mr Waterworth said.

IBM CFO Mark Loughridge is regarded as one of the best CFOs in business, according to the Wall Street Journal , renowned for his mix of strategy and financial savvy.

"When Mark took over, IBM had made a lot of hard decisions. What investors didn't understand was what the new IBM would look like. He took [the opportunity to define that] and ran with it," Barclays Capital stock analyst Ben Reitzes told the Journal.

But it's not all about growth either. Home Depot CFO Carol Tomé pulled back the pace at which her company was opening stores to focus on investing in technology and training staff. The move saw stock prices surge 45 per cent in five years, the Wall Street Journal reports.

You've probably never heard of him, but Palantir Technologies CEO is one of the most powerful in Silicon Valley. Picture: Getty. Source: Supplied

Chief Information Officer - CIO

While CIOs may once have run a department with a few computers, they can now preside over vast software systems for hundreds or thousands of workers.

They're charged with keeping the company abreast of new technology, making sure things are working efficiently, sorting out IT issues and ensuring the company is not being eclipsed by their competitors.

Coca Cola Amatil CIO Warwick Hutton looks after Australian operations for the world's biggest drink company, which employs more than 15,000 people and has access to a market of over 270 million consumers, according to a recent interview.

He said his role is to invest in new technology to help the company run better, which can range from the number of servers available to staff email systems and ways to keep the drinks cold. Read more about his role here.

David Gonski has chaired the ASX and will act as chairman of ANZ bank in 2014. Picture: AAP. Source: Supplied

Chairperson of the board and board members

In publicly listed companies, the board's role is to protect the rights of shareholders and make sure the executives are acting ethically, Mr Waterworth said.

They're led by a chairperson who is ultimately responsible for hiring and firing the CEO and holds the casting vote in debates where the board is deadlocked.

The chair will also help drive long-term decisions for the company and can be a high-profile person who may front the media and bring wider industry expertise to bear on a situation.

"Shareholders own the company and executives own shareholders. The board ensures that executives are doing the right things, complying where they must comply, ensuring governance is adhered to and the company is approaching things in an ethical and honest way. That's the board role and the chairman is head of the board," Mr Waterworth said.

David Gonski is perhaps one of Australia's best known and most sought after board members, having served as Chairman of Investec, the Future Fund, Coca-Cola Amatil and Chancellor of the University of New South Wales.

This year he will become Chairman of the Board at ANZ Bank, while also having previously been a director at Singapore Airlines, the Westfield Group, Chairman of the ASX and authoring the Gonski report on education funding.

Want to know more about being the top dog?

• Ten tips from CEOs to help you get ahead

• Intern to CEO: Four people who started at the bottom and worked their way up

• Is Palantir CEO Alex Karp the most bizarre in Silicon Valley?

• Meet the women CEOs of Fortune 500 companies

• 14 executives share the best advice they ever got

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