In early use as the title of an official in royal and noble households. specifically a person occupying the chief executive position in the Royal African, South Sea, and other chartered companies between the 17th and 19th centuries, the governorship typically being an honorary position occupied by the monarch (now historical )..
Origin
Mid 17th century; earliest use found in John Vicars (1580–1652), chronicler and poet. From sub- + governor.