There are other professions that bring more status than CEO in Japan.. one of the former Toyota heads emphasized his status as a professor in a renowned university over his being a top executive.

I imagine most would. Even here (US), "professor of _ at Harvard" sounds more respectable than "top executive," including "top executive of Toyota" in certain circles (like to most of the public).

One commands respect, while the other sounds powerful and possibly evokes stereotypes of evil, rich guys.

I mean, there's no hiding it if you're a top executive at a big company, but putting the other title first gives off a certain impression to most normal folk. No?