Speaking based upon how it works in most businesses, the CSO would have a very different role than the GM. The GM is very much an execution oriented role. He goes out and makes the phone calls and does the deals. The CSO is responsible for coordinating the strategy across all functions - not just player related. Things like where/how the company markets themselves, demographics they go after for sales, overall image they are shooting for, and maybe even how all of that combines with the types of players they go after. He will decide the strategy for the entire Kings brand. He makes the 5 year plan and make's sure each department is setting their goals and initiatives to coincide with that overall direction. It can be a pretty powerful position that reaches into every part of an organization.
But, in the King's org with Joe at the helm, it's sure to be a train wreck.