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Does "global head" title mean something?

I used to think "global head" is a very important job. However, these days, I encountered many individuals are "global head" of a group inside a department of IT. Is this a special recognition?

Could be title inflation, that's been incurring a lot over the past decades. But with our trading ops, we're international so each region has a head of trading. Then there's one global head of trading operations that oversees the whole shebang.

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"Without American production the United Nations could never have won the war."
-Joseph Stalin, Tehran Conference: 1943

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