. . . . . . . . Chief Executive Officer and . . . . . . . . Managing Director of the company are in the meeting room.

The given nouns 'Chief Executive Officer' and 'Managing Director' are specific positions of a company, hence they are definite nouns and we use a definite article for both of them, 'the', which is the only definite article, and it modifies both the nouns because they're specific (what also makes them specific is the phrase 'in the meeting room' as we are referring to the CEO and the MD in the meeting room), hence Option C is correct.