The new CXO is screaming toxic work culture and he intends to bleed out the life and joy of the people in this company.
He is one of the people that believes that work IS life! And expects everyone to be the same way under him. This is NOT sustainable and NOT how you treat human beings. This wasn't a thing until he joined the company.
You get paid charity-level money for working over 40 hours every week and no overtime pay. It goes with the whole Do More With Less motto that he has. Which means you're doing the job of 3-5 people all the time.
If he wants to work 80 hr weeks, that's on him, but don't push that on other people who have been in this company & succeeding and doing amazing work even before he joined.
Don't be an Elon.