When Sankar Karuppasamy served as chief information officer at trading card manufacturer Topps, he reported to the chief financial officer. But after moving into the role of CIO at gum maker Bazooka, which was separated from Topps through a $700 million sale to buyout firm Apax Partners in 2023, the technologist began to report to the CEO, Tony Jacobs.
“There’s a lot of transformation going on, with the new owners supporting the investment,” says Karuppasamy of the role that technology plays in Bazooka’s future. The reporting structure shift reflects a broader trend across corporate America, as 65% of CIOs report to the corner office, up from 41% a decade ago, according to consulting giant Deloitte.
