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

There are some prerequisites for IT executives, though. Micali said that CIOs need to learn the business at their companies, or else "no one will respect any ideas that you bring to the table." They also have to make sure that their own IT houses are in order, he added, noting that he had to fix some IT infrastructure issues at TNS North America before looking to influence changes in other units.

It also pays for CIOs to be politically astute. Jeffrey Steinhorn, who currently is CIO for the marketing and refining operations at Hess, said that in developing a new IT strategic plan shortly after joining the company, he started by meeting one-on-one with several business executives to float ideas about internal changes.

That grassroots effort was more effective than "coming out kind of with my guns blazing," said Steinhorn, who has been tapped to replace Walton as corporate CIO at Hess. "It became their strategy, and not mine. It made it a non-event to present the plan to the rest of the executive committee."

Knowing when to push and when to back off is crucial as well, said Golden Gate's Hill. "The organization has to want to change," he noted. "You can influence, you can cajole" -- but if business executives strongly resist your ideas, it might be time to retreat.

With added influence comes added responsibility, and a bigger potential downside for CIOs.