If it is your intention to aim for executive ranks (You mentioned CIO), then you need to go to a university.
I’m not knocking technical colleges, but technical is ALL they teach. If you want to get into management, you’re going to have to know applied math, budgeting, writing (proposals, reviews, etc.) You’ll learn a lot of stuff that seems unrelated to your direct interest, but the higher you go in management, the more that “unrelated” stuff is going to count for – although it’s very hard to quantify what will or won’t be useful.
If you just want to be a techie, you can go either route. I’m a university graduate, but I don’t know that you’d be able to tell that by what I do for a living, since I’m still basically a techie. But since you’ve specified upper management, don’t hobble yourself.