An organizational chart is a visual chart that represents the structure of a company. It highlights how teams and departments are organized, the reporting relationships across the organization, and every individual's role and responsibilities. The below org chart is designed in EdrawMax as the free org chart maker has tons of templates and symbols that let you design the chart as per your business profile. Corporate governance is one of the main reasons that these terms exist. As represented below, the first tier is the board of governors or directors -- the corporation's shareholders elect these individuals. The second tier is the upper management -- the board of directors hires these individuals. This can be a CEO, CFO, manager, or other people who work daily. The other type of representative encompasses outside directors, chosen externally and considered independent of the company.