Sleep on it for a few days. Think about your motivations. Consider how complete is your understanding of the particular business and industry. Ask yourself if the prospect of six figure savings is a big enough number to deserve the CEO 's attention or if it is something rightly delegated to a lower level [e.g. it's rounding error at big companies].

Finally, the fact that you are asking indicates unfamiliarity with the existing corporate culture...unsurprisingly for a recent hire. My advice is to watch and learn and figure out why things are done the way they are done and what forces are really in play.

Good luck.