I actually think most of these CEOs are right. I see the benefits of Social Media I just think it's better to let the people in the trenchs interface with the public. The position of CEO should have a certain mystique to it. Think Steve Jobs who you rarely see when he's not on stage and hence his stage appearances make more of an impact.

If a CEO makes sure to surround themself with quality people and lets those people interface with the public they'll still get all the advantages of social media AND get to keep that mystique about them.