This is a fair question, and basically you have the action of the subject (I heard...) and the action of the object (the chairman's action). In an English statement, you indicate the tense ONCE, and it's the verb of the subject.
The object's action has two options: the verb doesn't change (eg. call), which means a completed action. The other option is a present participle (eg. calling), which means an unfinished action. There's no indication of tense here: we already know the tense!
You will see this structure with "verbs of sense", eg. see, hear, listen to, observe, watch, feel, and so on.