The prospect of a CIO occupying the corner office once seemed remote. But as digital technology becomes increasingly woven throughout the fabric of businesses, more IT leaders are looking to level up.
Sixty-seven percent of CIOs aspire to be CEOs, according to or , who has run the cybersecurity software maker since 2021.
Scott says that , whose reputation-based signature detection IP and talent impressed him.
For aspiring CEOs, the willingness and ability to delegate tasks to trusted staff is critical, Scott says. Mastering the business strategy and all its nuances is also key, as CEOs must also know where and when to “pivot” if necessary. Keeping a wide aperture for what is possible is critical.
Moreover, once CIOs-turned-CEOs occupy the top spot they must take care not to lean into IT overly much, or try to be a “gap filler” for things missing across the organization. That leads to a major time drain that will preclude CEOs from effectively steering the business.
Bridging the gap between strategy and implementation
CIOs who have been around the block a time or two see the gaps. At some point, they decide to fill them.
Identifying gaps in today’s leading tech consultancies spurred , a partner at Acacia Advisors.
This attitude propelled the former CIO of Toys “R” Us and Serta Simmons Bedding to launch AI analytics software maker Provoso AI, for which he served as co-founder and CEO.
“People that go into new ventures and growth and want to build something — that is in their DNA,” says Newmoyer, who recalls building ventures as far back as high school.
CIOs running IT for large enterprises in particular are well positioned to take the next step because they’re already running a business within a business — with a multimillion-dollar budget.
Even so, he says IT leaders must have a thick skin and be prepared for failure, noting that a peer launched five ventures, three of which failed. CIOs have the safety of their corporate comforts; CEOs, not so much.
“Building a business with your own sweat and capital is a different level of pressure and commitment and ownership,” Newmoyer says. “It’s not for the faint of heart.”
On the positive side, success brings the immeasurable reward of knowing you built something with your own two hands, he says.
The CIO whisperers say…
Consultants have their own ideas about , program leader for Deloitte’s Global CIO Program.
Shaikh also says that while the tech mandate has grown beyond the IT department to include every C-suite function, accountability remains largely centralized with the CIO. That, she says, positions IT leaders to have influence at the highest levels.
Deloitte data suggests this course has been plotted for years, with 65% of CIOs now reporting to CEOs, up from 41% a decade ago.
Regardless of whether IT leaders remain CIOs for the course of their career or level up, every C-suite leader faces the same challenge today: The “D” word.
“Every business is being disrupted,” Vexital’s Mathews says. “Whether you make coat hangers or you make software, you’re being disrupted.”
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