The Chairman of the State Planning Board is appointed by the Chief Minister. The State Planning Board is responsible for formulating and implementing development plans and policies in the state. The Chairman of the Board plays a crucial role in overseeing the planning and development initiatives.

Option 1: The Governor does not act as the Chairman of the State Planning Board. The Governor is a constitutional position and does not have direct authority over the Board.

Option 2: This is the correct answer. The Chief Minister appoints the Chairman of the State Planning Board and holds the highest authority in making decisions regarding planning and development in the state.

Option 3: The Leader of the Opposition does not usually have a role in the appointment of the Chairman of the State Planning Board.

Option 4: The Speaker is responsible for maintaining order in the legislative assembly and does not hold the position of the Chairman of the State Planning Board.

In conclusion, the Chief Minister acts as the Chairman of the State Planning Board.