Clearly, becoming a CIO isn't easy for a man or woman. It requires a helpful hand from mentors, a passion and commitment for the job, and the courage to stick one's neck out. And it's a demanding job that will also put pressure on a CIO's personal life.

"It is much more a family struggle now," says June Drewry, global CIO for the Chubb Group of Insurance Cos. "Maybe because it is no longer a woman's role [as primary caregiver], more and more companies are struggling with it overall and saying, 'We have to find the right balance for our people,' because everybody wants that balance."

But these women CIOs don't express any regrets. They may have made sacrifices, but they see the rewards. As Ogilvy's Riazi says, "Every decision I made until now was the right decision for me."