As a manager I always liked to think I hired people smarter than me. Can I point out that as a hiring strategy this is not necessarily ideal, because by induction it means the CEO is the dimmest bulb of all.
I'd argue that "smarter" is too 1-dimensional of a scale here. A good manager/CEO hires people smarter than them in certain skills - ie an engineer with lots of backend/software architecture experience may hire a frontend programmer/designer. You wouldn't say that either is really smarter than the other, but they each bring unique skillsets/viewpoints to the problem.