The entities that megacorporations have become today run potential that erstwhile rulers didn't even dream of. Huge fortunes, millions of employees, and territories as extensive as entire worlds populated by billions of ephemera in the Ether... Such vast possibilities however require perfect masters.
This is why it was realized a long time ago that neither an executive director nor a president of any kind would handle such multidimensional power.
So Archons were appointed, people created to rule.