Sure. That's because the org chart isn't ever the real chart. I mention elsewhere the real chart looks more like the Habsburg family tree especially the higher up you go - a bunch of surprising actual plays.

The rule of thumb is if they can't fire you they aren't really your boss.

For instance, at a previous firm, the COO, which ostensibly can be fired by the CEO was actually the brother of executor of the chief investment in the last round so the COO has a direct board connection and so he could actually fire the CEO with enough effort. Underneath the COO was a finance guy who had just come from a possible acquirer so really that guy could probably get them both fired if it meant a good payout for an acquire.

The tendrils are wacky which is why when a room of those people have to do actual work, it's not some shrewd rational calculated execution but instead just some hot mess