It's signaling P&L responsibilities. It's not that weird, at least not unheard of at all, just that it's typically done through "EVP" - So EVP Applications, VP of Applications Engineering, etc. - I'm guessing that the line items those "C"s who are not Sam are responsible for, are bigger than most F500 executives, and they're using titles to reflect that reality.

just gonna point out that Google has done this as well and its not so much title inflation as it is just acknownledging the fact that if the unit they command was a standalone business they would well be worth the CEO/CTO title.