Literally "Pointy Haired Boss" as featured in the long running Dilbert cartoons by Scot Adams. The phrase suggests an office manager with above average incompetance, general cluelessness and an ability to prevent anyone else in the office from doing any useful work.
Actual pointy hair is not a requirement for PHBs, but there is strong annecdotal evidence that they will rapidly develop the distinctive hairstyle.
My PHB asked me if the firewall was a serious fire hazard.
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