this post was submitted on 06 Nov 2023
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By that definition isn't a presidency a monarchy?
Depends on the rest of the systems surrounding the president. The US president, for example, has some power to do things unilaterally, but much of what a president does must be approved by other branches of the government to take effect. In that sense, the president isn't the sole person at the top of the hierarchy, there's a few bodies that that power is split between.
In addition to the other comment, company presidents are usually considered lower rank than CEOs, but also often don't answer directly to them.
A president usually presides over a group, like a board or a council, without direct power over technically lower rank individuals. If a president started micromanaging the cleaning staff, they'd probably be fired.
That being said, company structure varies wildly, and there are definitely company presidents that act more like kings and dictators. It's just a title after all, no one will arrest you if it's inaccurate.