Aggressively male chairman embracing companion (5)
I believe the answer is:
macho
'aggressively male' is the definition.
(I've seen this before)
'chairman embracing companion' is the wordplay.
'chairman' becomes 'mao' (I've seen this before).
'embracing' is an insertion indicator.
'companion' becomes 'ch' (I've seen this in other clues).
'mao' enclosing 'ch' is 'MACHO'.
(Other definitions for macho that I've seen before include "Assertively masculine" , "Like aggressive male" , "red-blooded" , "Overtly masculine" , "Aggressively masculine" .)