A degree in Information Technology is going to, more than likely, lead you to a career where you will guide the direction of IT within an organization. This would be the quicker route to CIO.

As a network engineer there would be a few more steps to take before making that leap into a role in upper management.

Of course, you may shine in network engineering and upper management would streamline you into a managerial position faster than someone with an IT degree but you are more likely to get there faster if your studies were geared towards that.

Hope this is helpful to you.