As an example, I was CTO at VMware (for their public cloud group, vCloud Air). My tech background and experience was very generalist, and I only managed small groups of developers for just a few years. I wouldn't call myself very technical, compared to someone with deep knowledge and experience in developing a product and managing a large group of developers.
As a CTO, I was mostly a bridge between clients and product. I needed my technical skills, but I also needed to understand how to nurture that relationship.
The various VP of Engineering at VMware were amazingly technical. They knew how to navigate the "politics" of the company (which was a bit over-organized and a bit dysfunctional, because of acquisitions, change of strategy, etc), but they mostly knew how to run a large team.
Interestingly enough, even some GM (General Managers) or specific business units could be highly technical, and it gave them a huge advantage in managing their CTO and the rest of their team (e.g. Martin Casado, brought in after the Nicira acquistion).