In my company, the CTO and CEO are the co-founders. The CTO has a PHd and our revolutionary product is pretty much his brain child implemented by the tech staff

In my company, the CTO and CEO are the co-founders. The CTO has a PHd and our revolutionary product is pretty much his brain child implemented by the tech staff under them. We also have a VP of Engineering that they hired. (a Director of Eng in their previous venture). However, the VP of Eng reports to the CEO. The CTO has his own set of staff and they basically brainstorm on new ideas. We engineers respect all of them, but the CTO is definitely placed at a higher pedestal because the bread & butter produect being his idea. But, the CTO does not deal with most of the engineering staff except a few members who are working under him for some latest ideas or our product in the R&D phase, not released to the market yet. As an analogy, the CTO is more like a College professor with a bunch of RA's under him :) I am not sure what your background in your company is. Just wanted to share what i saw in my company.