Who can be a good Business Manager?

The other day i was discussing with the CEO of an Information Technology Company of the size 120 people, pre-dominantly providing services in software testing. The CEO's concern was that to expand his business he needed to have good Business Managers. So, the question how to get a good Business Manager and what should one look at in this person was the point of discussion. After some discussions we came to the conclusion that a Business Manager should definitely have good problem solving abilities, plus knowledge and expertise in the functional areas of business like- production, marketing, finance, accounting, human resources, information management, research, and development. Like to hear from you if there are some other straits that we missed out in the Business Manager...