This has already been discussed in detail, including some asinine statements that business class is better than first class. It is not. It is a class of seating between coach and first class.
Of course they fly business class. Do you think they would fly coach? They are heads of a mid size corporation. As rub pointed out, with all the miles they fly, it would be insane to think otherwise.
As for “the hours on their hands”, i have no idea whats that about. Any details you could share would be helpful in formulating a response