CIOs: Forget IT-business alignment; it's all about fusion

And the strategy is getting results, according to Walton, who plans to retire from Hess next month. He said that as part of a new organizational structure being adopted by the company, the CIO's office will become responsible for managing some core business functions.

In addition, Hess is creating a joint IT and business group that will work outside of its day-to-day operations to develop new operating processes and advanced technologies. That unit will combine some of the company's top technical thinkers with geologists, scientists and other workers and report to the head of oil exploration and production, Walton said.

Hill and Walton are part of a growing class of IT leaders who are positioning themselves as activist CIOs within their organizations and working directly with other top executives to influence strategic directions, suggest changes in internal business processes and even lead initiatives that aren't strictly technology projects.

Richard Fox, vice president of IT at PHH Mortgage in Mount Laurel, N.J., has spent the past seven years working side-by-side with the PHH Corp. subidiary's sales organization. Fox said that has helped him to build a rapport with sales executives and develop the kind of credibility needed for him to take the lead on business improvement opportunities.

For example, he pointed to discussions that he and the sales team are having about potentially changing some of the company's mortgage application processes. "It's absolutely about being proactive," Fox said, "and saying to your business peers, 'I know what your pain points are. Have you ever considered trying this approach'"