[mirochnik]

The structure of the company depends on the needs.

When you have a tiny Corp IT, almost invisible in a company's annual budget, and nobody in the company wants to care about it (a lot of pain but zero rewards) -> it goes to CFO. You have Corp IT as a major cost center which is bigger than all the other spending altogether (mature IT companies) then you want someone knowledgeable and trustable to run it, usually CIO.

Sometimes, Corp IT as internal infrastructure supporting employees, development, backoffice is under the same person running production for the clients. Then standards of the internal IT and external services are the same (and very hard for internal services to achieve).

In other cases, production and corp IT are different departments with not so funny unresolvable collisions, like buying incompatible hardware for testing environment (internal services) and production.