If Larry is approving hires it's just as a rubber stamp. There's no way anyone at the head of a company that size could think about anything at the employee level.
It seems like a bonkers practice to me. I understand that it is important to hire good people. But this could be delegated several levels down, at least for entry-level hires. I suppose the top dogs could worry about promotions and hirings starting at the level of the junior managers, if they wanted to.