Retired chairman is embracing #metoo? (2,2,1)

I believe the answer is:

so am i

I'm a little stuck... Click here to teach me more about this clue!

'metoo?' is the definition.
I know nothing about this answer so I cannot tell whether it can be defined by this definition.

'retired chairman is embracing' is the wordplay.
'retired' shows that the letters should be reversed in order.
'chairman' becomes 'mao' (I've seen this before).
'embracing' means one lot of letters goes inside another.
'mao' going into 'is' is 'imaos'.
'imaos' written backwards gives 'SO AM I'.

Can you help me to learn more?

I've seen this clue in the Sydney Morning Herald.

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