The 'Top Banana' is the leading person, the most powerful or important person in the group or organization.
Example of use: "Everybody agrees that Misha is the top banana in the office."
The phrase originated in the burlesque theater, from a very popular comedy skit in which the leading comedian was given a banana after delivering the punch line. The act and joke were so widely known that the term was coined to refer to the headliner, the person in the top position.