I saw this and laughed. This very morning my engineering team is getting together to come up with our yearly projects (beyond our usual responsibilities), which do go to the corporate higher-ups for review.
In fact, i agree with the CEO. It is not that the "tech slang" does not matter, it is just that, depend in the layer of responsibility, it is irrelevant.
Or you could say, some information works in a different level of abstraction. For example, for a computer, for an electrician, they care about voltage, resistor and so no. However, for a programmer, he little care about that.
Here's why it really doesn't matter: his job is just to be a front man and keep the bottom line acceptable to shareholders. His next job could be running a car company, or pharmaceuticals, or airplanes, or a hedge fund. he doesn't have to actually know the business, as long as he knows Business.
And this is not good for anyone but himself.