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Chief
Unless the CCO is a founder, CEO usually outranks them. They often select and hire them as they have to ultimately work as a team. A good partnership like this can be the foundations of a great agency.
But as ECD1 says, in a creatively led agency, the CCO should have final say on the Creative work.
The exception is in pitches where sometimes the CEO will step in and overrule because they think they know the client better. But this usually ends badly.
Depends on what is being discussed. On creative work, yes. On budgets etc, not always.
What business ever has a department head (essentially what a CCO or CMO or C-whatever is) outrank the CEO?
I think the anomaly might be someone like Rob Schwartz who is technically also a CCO or was in the past but this isn’t the same as a CCO outranking or having more authority than a CEO. However, I did hear from people at ogilvy and grey that Tham Khai Meng and Tor were pretty much equal to and in some cases outranked their CEOs while they were there. Ok I’m paraphrasing. They didn’t say outrank, they said they had more “power”. Not sure how true.
Most agencies are account service run, and therefore the CEO has final say. It sucks but that’s just how it is now. Go work at a place like Colenso BBDO in NZ, this very rarely happens.