It encompasses a particular set of skills needed by companies eager to do business on the internet. Today you cannot just be an IT person. The problem has been exacerbated recently because of the new technology skills demanded by web-based companies, and the large number of companies in startup mode. CTOs are a scarce commodity. He said companies do use headhunters but many find their services too expensive.
Word of mouth plays an important part.
Traditional IT directors manage a budget for items such as staff operations and hardware. They don't know enough about the link with the business. You need knowledge of the internet space and a vision of the future technology. When you are a dot com company, your only channel is through the internet. There can be no closer link between the business and technology than if the technology fails you don't have a business.