Distinguish between Chief Executive Officer and Managing Director.

Section 2(18) of Companies Act, 2013, has defined "Chief Executive Officer" so as to mean an officer of a company, who has been designated as such by it. Section 2(54) of Companies Act, 2013, "Managing Director" means a director who, by virtue of the articles of a company or an agreement with the company or a resolution passed in its general meeting, or by its Board of Directors, is entrusted with substantial powers of management of the affairs of the company and includes a director occupying the position of managing director, by whatever name called.