There are plenty of reasons for CEOs and other high level executives to blog. I'm skipping the "because communicating is good" and concentrating on the solid benefits in this list.
1) Blogs add a personality and face to a company. This can mean more business, more dollars and cents.
Let's face it, people don't tend to trust big organizations anymore, whether it's the US Government, Microsoft, Worldcom, Enron, etc. People do however trust people they know, and like to do business with people they know and trust. When an executive blogs, they become part of the face and personality associated with the organization. They build trust. They build likeability.
I never liked Sun Microsystems. They were an arrogant competitor from way back. I now occasionally read their president and CEO Jonathan Schwartz's blog, and I no longer think of them as the old arrogant Sun. I rather like them these days, primarily due to their CEO's blog.
2) Blogs influence the most important people.
I rarely read GM's Fastlane blog. I simply don't care about cars. But guess who does? Well, my friend Gearhead Greg does. When I need a new car, who do I ask for opinions? Well quite naturally my friend Greg the car nut, and he's much more positive on GM these days, in part due to their blog.
Few if any of my clients read Jonathan Schwartz's blog. But when they need to buy new Unix Workstations, my opinion is often valued as I'm an old Unix guy from way back, and as I've said before I kind of like Sun now.
3) Blogs connect CEOs and senior executives to their most important people, their customers.
It's lonely at the top! The higher you get, the less feedback you get. The less in touch with the end customer you are. Blogs put you in direct contact with the people that matter most, the end customers.
Bonus #4) Writing is critical business skill
Some executives and CEOs really should learn to do it better! Practice doesn't make perfect, but it does help you improve.
I'm not claiming every CEO and high level executive should blog. Quite honestly, some should be hidden from public sight as communicating is not their forte. But for many CEOs and high-level executives, blogging is a no brainer.