Due to the continuously growing competitive factor in the IT sector, the position of Chief Information Officer is at a crossroads. The CIO, who has previously been seen solely as an IT manager, is now confronted with the role of a strategic designer, whose responsibilities extend to the executive level. Business understanding and leadership skills shape the requirements of this new professional profile. These challenges, as well as potential career paths and success factors for the new CIOs, are examined and analyzed by Mirco Doebel, along with a future outlook for leaders in the IT industry.