depends on the size & structure of the company.

VP/Engg are responsible for shipping software/products.

CTO's are technical visionaries or glorified sales people with a big title depending on the company. Here's a link to the various types of CTO's [pdf article]: http://www.brixtonspa.com/Career/The_Role_of_the_CTO_4Models...

What's the difference between the two roles? The article assumes you already know.

My impression of his definitions:

CTO = High level leader of technical side of the company. Tech idea guy and salesmen. Big broad decisions. Not involved in the day to day.

VP/Eng = IT Director/Head of development/operations down in the trenches implementing the CTO's vision.