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Recent research, Transformation in the C-Suite, looks into the composition of the executive teams of Fortune 100 companies in the preceding six years. Apart from an obvious growing C-Suite size (90% increase since 2013), the positions of chief learning officer and chief digital officer have also soared 900% and 867% accordingly.
Chief data officer is the most popular among the new C-suite titles, and is currently present in 18% of Fortune 100 leadership teams. Meanwhile, only 6% of the Fortune 100 businesses have a chief transformation officer.
Pharma/healthcare (16%), insurance (14%), retail (14%) and financial services (11%) are most likely to create C-suite positions to spearhead the digital transformation.
“The need to embrace digital transformation from the top down is more crucial today than ever before,” said Niall McKinney, global president of Avado.
“C-suite titles in these influential companies serve as a bellwether for how rapidly and effectively companies recognise the need to expand the skill sets of their leadership teams. Businesses with digitally focused leadership will be better prepared to respond to complex business problems and serve the rapidly changing consumer needs.”
The Transformation in the C-suite data was collected through only publicly available channels related to the Fortune 100 companies.