Why is IT in the CEO's spotlight?
Number one, it's the internet and e-commerce, stupid. Number two, the focus of IT effort and opportunity is switching from the back office (accounting, enterprise resource planning) to the front office (customer interaction).
So the technology is becoming the business model and the customer experience. If you're a non-techie CEO, you can't hide from technology any more - and you need 100% confidence that your IT director is on top of their game.