Andy Grove talks about this in "High Output Management". He says there are two kinds of managers, "know-how" managers and "position" managers. Both have a certain amount of authority, and a successful technology company needs both.

If you're a senior enough person who doesn't want to manage people, you should think of yourself as a "know-how" (knowledge, experience) manager and find a role that allows for that.

It's also been my experience as an engineering manager that it's best to think of yourself as a manager without authority.