It is always difficult to completely understand what a CEO does. People believe that they make decisions and make money. That is a small part of their job. The most important thing that a CEO does is lead and be a leader. Below are links of articles that talk about what a CEO or at least a good CEO does.
A VC: What A CEO Does
Permanent link to this article: http://blog.jimmyhua.com/2010/09/18/a-vc-what-a-ceo-does/