that is false. some may do it but it is not required.
the correct answer for this is 'chief executives' commonly known as ceo.
in executive or corporate organizations or companies, a chief executive, also known as chief executive officer (ceo), is the senior most officer in charge of that organization and thus requires a master's degree.
chief executives are responsible to devise strategies, plan and execute them to ensure that an organization meets its goals and is run smoothly.