Giving up coding is what you do for your team, so they don't have to deal with the half finished B grade work you did inbetween doing the serious shit they can't do
Come on, there's no need to attack somebody like that just because your experience is different. Instead, share your experience so we can all learn from both sides. There isn't nearly enough information in seibelj's comment to draw a conclusion either way.
I have seen it too many times with project managers and now my CTO. Trying to still code and fix that terrible bug with already too little time. Ends up slowing down everyone because he never can get anything finished, or breaking things on a Thursday at 6:49pm because of the half baked solution he thought was good enough, but exploded in production, which he then has to spend 1 more hour fixing and 6 more hours cleaning up the aftermath. Spend your time reviewing and mentoring and try replacing yourself with someone who has time.
To be honest, you're not yet at the scale where this much of a concern. You're either "flat" and about to need to put in structure or you already have it. If you already have the structure in place, then you have at most 4 direct reports and at worst 2 (ideal team sizes being 3-5).
I say this not to downplay the work you've done, but instead to put it all in perspective. You're in the `11-50 Engineers: Clinging to coding.` stage.
I realise it might be shocking to hear but it's genuine and meant sincerely, I think you're probably making a mistake and because you are cto are not being picked up on it