CTO or IT Director ?

Why do you think you need a CIO? Why do you think you need a CIO now? As a matter of fact, the need for a CIO has absolutely nothing to do with the size of the firm. The need for a CIO depends on how your firm wishes to leverage technology. https://www.boomer.com/single-post/At-What-Size-Does-a-Firm-Need-a-CIO