Approximately 70% of the top executives of U.S. publicly held corporations hold the dual designation of Chairman and CEO. (Only 5% of the firms in the UK have a combined Chair/CEO.) The combined Chair/CEO position is being increasingly criticized because of the potential for conflict of interest. The CEO is supposed to concentrate on strategy, planning, external relations, and responsibility to the board. The Chairman’s responsibility is to ensure that the board and its committee perform their functions as stated in the board’s charter. Further, the Chairman schedules board meetings and presides over the annual shareholders’ meeting. Critics of having one person in the two offices ask how the board can properly oversee top management if the Chairman is also a part of top management.