For a concrete example, I work on compiler research. To explain my work to a layman, first I have to explain "compiler"; for that, I need to explain "native code" and "programming language". That can take a lot more than 30 seconds.
The CEO you've now explained what he does now has a good idea - translating between human languages usually loses some of the intricacies of the statement and makes it seem unnatural. It's better to just get someone to write directly in french rather than translating it from english, right? So the CEO will fire the compiler researcher and hire someone to code in ASM. Good job.
I'm being silly here, but the point still stands: explaining something complex is fraught with dangers when there is no mutual understanding of the subject matter. You might think you've explained something, and the listener might thing he has understood, but in reality you have now simply created completely invalid assumptions in a person's mind. The greatest example of this I've seen is regarding quantum mechanics and observation collapsing the wave. There is a whole quasi-spiritual movement that now believes that the world is shaped by conscious observation - talk about missing the point!
Summarizing is about maximizing the amount of information conveyed per word. Saying "you have failed to explain what he does in two sentences" is a bit silly, since, if one could fully explain his PhD in two sentences, it wouldn't be a PhD.
Or I could tell you that I find better ways of extracting information from data.
Your pick. The latter just sounds like shit. But just because you have a degree in computer science doesn't necessarily mean you will have the tools to understand that.
It's easy to give an intelligible answer that could be equally applicable to any of about 100 PhD theses. But getting someone to explain their specific contribution in under 5 minutes is often going to be pretty difficult.
Often repeated and attributed (apocryphally?) to Einstein but has never been true. Lots of scientists lack the skills required to explain their work succinctly to a general audience, and it doesn't mean they don't understand their own work.