Leader: Are IT bosses ready to run the company?

The New Year got off to a good start for one IT boss with the promotion of Betfair's operations and technology executive David Yu to CEO this week.

It's rarer than a successful government IT project to see an IT chief not only get a seat at the top table but actually get the top seat at that table. It's an appointment to be applauded and one that should give hope to CIOs and IT directors everywhere. We're also pleased to see a long-time member and contributor to silicon.com's CIO Jury IT user panel recognised for his hard work.

Given the old joke that CIO stands for 'career is over', the real question Yu's appointment raises is whether this is a one-off or the start of a trend of IT execs fending off competition from the finance and sales directors to get the top job.

As expected there is some controversy around Yu's appointment, with speculation in the business press that the three directors who have just resigned from Betfair did not approve of the appointment of an IT guy without first looking externally for a candidate.

But that shouldn't detract from a brave appointment by the Betfair board and one that is more than well-deserved on Yu's part. As an online betting exchange, Betfair's business model is dependent on technology, and no-one is in a better position to take the company forward than Yu, who detailed some of his vision in this interview with silicon.com last year when he was still COO.

Given the old joke that CIO stands for 'career is over', the real question Yu's appointment raises is whether this is a one-off or the start of a trend of IT execs fending off competition from the finance and sales directors to get the top job.

Looking at the stats, roughly a dozen blue chip companies in the UK were bold enough to trust the IT guy to run the business five years ago. But that figure has been steadily increasing and the evolution of the CIO role means that the good ones are now far more commercially savvy and have a better view of the whole organisation than many other execs.

Of course CIOs will still probably need to work harder than their fellow execs to prove their credibility to the board. But as we begin 2006 there are at least some promising signs that if and when they do show their mettle there is a whole new world of corporate opportunity awaiting them.

Plus: Read our analysis piece on what CIOs need to do to win the top corporate job.