What do CEOs do for a company that justifies the amount of money they receive for their “work?”

I’m genuinely curious about their duties and why they are compensated so much at a company when their role seems to be nothing more than taking suggestions and information from the employees below them and making the final decision on an issue. I believe a CEOs pay should be capped in relation to the lowest paid employee of that company, but maybe CEOs do more work than I realize. Anyone have real insight on this topic?