Chaiman

In the late  1700s, many houses consisted of a large room with only one chair. Commonly, a long wide board folded down from the  wall, and was used for dining. The "head of  the household" always sat in the chair while everyone else ate sitting on the floor.

Occasionally a  guest, who was usually a man, would be  invited to sit in this chair during a meal. To sit in the chair meant you were important and in charge.  They called the one sitting in the chair  the "chair man."

Today in business, we use the expression or title "Chairman" or "Chairman of the  Board."

Sources:

http://endued.tripod.com/factsfun/id43.html