What CIOs should consider before pursuing CEO ambitions

The CIO’s reputation has reached new heights over the past few years in large part due to rapid digital transformations following the COVID-19 pandemic, and initiatives to help businesses make the most of emerging technologies. There’s never been a better time to be a CIO, but considering the seamless blending of business and tech, why stop there?

Yet despite opportunities that might be in front of them, CIOs becoming CEOs aren’t common outside the technology sector. While IT leaders are trusted to oversee digitalization initiatives, few are given the keys to the business, and CEOs, for now, are more likely to be former finance chiefs, COOs, or even sales heads.

“We see the relevance of the CIO role increasing, but not necessarily that more are becoming CEOs,” says Gabriela Vogel, senior director analyst in the Executive Leadership of Digital Business practice at Gartner.

She explains that CIO significance is growing because boards require trusted advice on the impact of technologies like AI. As the guardians of enterprise IT, CIOs must understand how digital and data can spur growth, and then relay this insight to the board. Technology-related change, in fact, is the second most important business priority for CEOs after growth, according to Gartner’s 2024 CEO survey.

So with this trend prompts the likelihood that high-profile CIOs will have increasingly better chances to become tomorrow’s CEOs.

“They have the opportunity to become CEOs in the future,” says Vogel, “but there’s a lot of work that needs to be done. It’s too early to say definitively.”

Moving in the right direction

What’s clear is the modern digital leader barely resembles the one from only a few years ago. Eric Johnson, CIO at technology firm PagerDuty, says the CIO’s role has evolved significantly over the last decade from a tactical operations executive to a strategic, transformational leader.

He says this increased visibility has necessitated CIOs to align their technology initiatives more closely with overall business goals. As digital has become a top priority for company boards, CIOs have been asked to guide these high-level discussions. Johnson says these interactions lead to new opportunities.

“This increased board engagement provides CIOs with valuable experience applicable to the CEO role and requires them to become multilingual communicators,” he says. “They must effectively explain complex technological concepts and their business implications to non-technical executives and board members. The most successful CIOs are now starting to look through the lens, not of technology first, but being hyper-focused on the business outcome they’re measuring or delivering against. This strategic and business-outcome mindset will help CIOs be better positioned than ever to be strong candidates for future CEOs.”

Nick Woods, CIO at MAG, a UK airport group that owns and operates Manchester, London Stansted, and East Midlands Airports, is another digital leader who thinks CIOs can reach the highest ranks of the C-suite. Woods, who sits on MAG’s executive board, uses AI to deliver what he calls the world’s most intelligent airports.

“The benefits you’ve got as CIO, particularly with how we’re running our transformation program, is you get to see all the parts of the business,” he says. “I’m a peer with every person around that boardroom table, whereas many other leadership roles don’t necessarily get that view. So I think CIO to CEO is a route forward now because we have a more holistic view.”

That sentiment resonates strongly with Helen Fleming, executive director of search and specialisms at recruiter Harvey Nash. “There’s no doubt the path is opening for CIOs to make it to CEOs,” she says. “Traditionally, the CFO was regarded as the most likely CEO-in-waiting. Now that’s changing. It’s becoming a more open field, and the CIO is in the mix.”

Fleming says more CIOs will move into CEO roles soon because digital leaders have the right skills to lead modern organizations. “It’s already happening and I think it’ll become more widespread,” she says. “Increasingly in our technology-driven world and business landscape, it makes sense to have a leader who’s a technologist by trade.”

Understanding the complexity

The trend is encouraging, but it’s important to temper expectations. While CIOs have stepped up and delivered digital strategies for business transformation, using those successes as a platform to move into a CEO position could throw a curveball.

Jon Grainger, CTO at legal firm DWF, says one key challenge is industrial constraints. “You’ve got to remember that, in a sector like professional services, there are things you’re going to be famous for,” he says. “DWF is famous for providing amazing legal services. And to do that, the bottom line is you’ve got to be a lawyer — and that’s not been my path.”

He says CIOs can become CEOs, but only in the right environment. “If the question was rephrased to, ‘Jon, could you see yourself as a CEO?,’ then I would say, ‘Yes, absolutely.’ But I would say I’m unlikely to become the CEO of a legal services company because, ultimately, you’ve got to have the right skill set.”

Another challenge is the scale of the transition. Compared to the longevity of other C-suite positions, technology leadership is an executive fledgling. Many CIOs — and their digital leadership peers, such as chief data or digital officers — are focused squarely on asserting their role in the business.

Claire Thompson, group chief data and analytics officer at insurance giant Legal & General, recognizes the importance of proving your executive credentials in one area before climbing the career ladder. She says the good news is that digital leaders who demonstrate their capabilities will expand their horizons.

“When I started my career, my role didn’t exist,” she says. “There was no such thing as a chief data and analytics officer. I’ve been in this field for a long time and have seen many changes, and that pace of change continues to quicken. So I hope there’s more opportunity for data leaders to have a voice around the table.”

It’s also important to recognize the CEO role shouldn’t be seen as an end goal for all digital leaders. Gartner’s Vogel says her firm’s research suggests that while 36% of CIOs want to be CEOs, 24% want to stay in their current position. That’s a fascinating result, she says, that while the opportunities to move up exist, some CIOs don’t want to.

“Many of us would expect that if the opportunity exists, why not grab it?” she says. “But not everyone has the ambition to become a CEO, and I think that’s all fine and fair. That gap also helps to explain why other C-suite executives, such as the CFO, are trying to develop a deeper understanding of the impact of technology-enabled change.”

Supply and demand

With other non-IT executives looking to boost their credentials, CIOs who do want to move into a CEO role will encounter significant competition. For CIOs eager to get promoted, Vogel says it’s important to take responsibility, deliver value, and expand your influence by moving into a COO role or leading a revenue-generating part of the business.

“I think that’s a great move,” she says. “CIOs become CEOs when connected to the company’s value proposition. You need to ask where the money comes from, and the more you can attach yourself to the value proposition, the better because that’s the reason the company breathes.”

Harvey Nash’s Fleming is another expert who says the COO role is a good stepping stone for ambitious CIOs. Her firm’s evidence suggests digital leaders boost their standing by demonstrating how technology and operations go hand in hand. “CIO to COO to CEO is becoming a common path and a natural progression,” she says. “They’re managing bigger parts of the business and leading bigger teams. This influence strengthens their hand.”

So, while the route from CIO to CEO remains challenging, more digital leaders will eventually rise to the top. Nigel Richardson, chief digital and information officer at PepsiCo Europe, says the chance of that happening depends on how CIOs position themselves.

“CIOs who focus on ERP systems, infrastructure, operations, and providing point solutions to functional needs may not progress to CEO,” he says. “But CIOs focusing on innovation and leading business transformation have every right to aim for the top job.”

He adds four key objectives for ambitious CIOs. First, show how technology is a driver of competitive advantage. “As CIOs lead digital transformation initiatives, their strategic influence grows and they can position themselves as critical players in shaping overall business strategy,” he says.

Second, ensure you hone your cross-functional expertise. “CIOs who take every opportunity to learn about all aspects of business operations, and ideally spend part of their career in a different function, will have a big advantage,” he says.

Third, focus on innovation and growth. Show how emerging technologies, such as AI and machine learning, are differentiators. “Forward-thinking CIOs will foster innovation and identify new growth opportunities, which is a positive quality for CEOs,” he continues.

Finally, he says, deliver cultural change alongside technological transformation: “CIOs who can demonstrate strong leadership and change management skills, and the ability to build high-performing teams, will position themselves well to lead businesses.”