The two shouldn't be siloed. I'm coming to the conclusion that engineers have a responsibility to get themselves promoted to get someone with understanding into authority.
The only/final authority (day-to-day) is the CEO. Who, of course reports to the board, which reports to the shareholders - in a large majority of business entities.
As a many-time CTO, several time CEO, several time Chairman, I have had plenty of promotions but in the end you always do what your boss tells you (or resign). :)
