Is there still room for a CIO and a CMO at the top table?

I read an interesting blog article recently that discusses the value of a CIO in today’s data driven, SaaS and cloud-enabled world. The author William Mougayar suggests that the CMO has risen at the expense of the CIO and that “the CMO-CIO relationship has already evolved beyond a peer one”. In fact he argues that there is a valid argument for keeping the CMO and outsourcing the CIO.