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This question is about managing director and chief executive officer.
Neither a CEO nor a managing director is higher because they are the same thing. CEO is used primarily in the US, and Managing Director may be its European counterpart.
In company hierarchy, the CEO is typically at the top over all other roles. Sometimes a company will have both a CEO and an MD. There are distinct differences in roles and responsibilities. A CEO oversees all the company areas and reports to the board, while an MD may be part of the board of directors and oversee the function of different departments. It may depend on the company that sits at the top.

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