That is an actual job title. It was discovered in a poll of executives by Accountemps, a California recruiting firm. The title may seem silly. But I bet the person who holds it feels darn secure. That's like admitting you don't value creativity and motivation.
Most weird titles are euphemisms.
Many titles are just baffling. This isn't a Memorex commercial. A Magnificent Obsession People become obsessed with titles. Pay and duties didn't change. The executives didn't even lose their parking spots.