Jesus, they couldn't even pronounce Praet Nero, even though it takes two seconds.
Maybe Prod is the Romulan word for praetor? It's not like Praetor is a Romulan word, afterall.
And, etymologically, it could also be the Romulan word for commander or ship captain, if considered the Praetor's representative on the ship.
Traditionally, Praetor was a lower-level position in the Roman Empire, with responsibilities over either an army or a large set of municipal of bureaucratic duties. The UT translates the apparent leader of the Romulan Star Empire as a Praetor, which could be either a sign that they traditionally are addressed by a junior title (a la Colonel Qaddafi), evocative of the early real world Roman Empire, where the Emperor was more of a nebulous figure, holding various positions but not an exact one (see also: the Soviet Union or North Korea today).
There is an Empress in Romulus, and likely an entire imperial line, but the power seems to rest in the hands of the Senate.