Put yourself in this situation:
You are the [manager], but international business (i.e.) having employees and sugjected to international law, as well as having offices in many countries around the world. Directly below you in the chain of command hierarchy, are people who look after specific interests, such as technology and human reosurces. These people look after the broad spectrum of workers in their field. They may or may not be chief officers.
The business is a company, limited by liability, and have no board of directors.
a) Executive Director
b) Managing Director
c) Chief Executive Officer
Bit of a funny question, but nethertheless, interesting to see peoples' opinions.