Apparently, CIOs are increasingly being asked to do more than just IT. The shifting focus is on business projects. I'm sure there has been plenty already written about why the shift is taking place. I'm going to venture a few perspective-based guesses.
First guess: Most organizations suffer from a glut of leaders who read all the right books and talk all the right talk, but don't really know how to do much of anything. Most IT people cut their teeth on doing. The knowing got them hired. It's not likely that the organization seeks out the doer. Rather, the doer starts getting crazy over the inertia and just starts doing.
Second guess: No longer being considered a strategic asset, IT people have to find other ways to increase their value to their organizations. Business process improvement is a logical space and one that all organizations struggle with.
Third guess: IT people hate boredom and love to systematize everything.
It may not keep you off the chopping block, but the shifting focus does serve to keep you busy, satisfy short-term needs, and provide resume fodder for the next chapter.