Have we reached “peak” chief digital officer?  

15 May 2019:

Acquiring digital competence has been a key objective for most of the world’s largest companies for some years. And a key way to go about doing so has been to appoint a chief digital officer (CDO) to lead the digital agenda.

Going digital is, of course, still important. But we’ve noticed recently that the means of achieving that transformation have started to change: namely, fewer companies are appointing CDOs.

In the latest study of CDOs conducted by Strategy&, PwC’s strategy consulting group — which looked at hiring patterns and the scope of the CDO role across the 2,500 largest publicly listed companies in 2018 — we found that the rate at which CDO positions have been created slowed sharply compared with the last time we did the study, in 2016.

Just 54 companies (2.2 percent) surveyed had created a distinct, new CDO position in 2018, compared with 124 that did so in 2017 and 160 in 2016. We can now say that 2016 was the high-water mark in CDO hiring.

Leaders at many companies now believe that putting a single person in charge of digital transformation may not be the best approach, because it is an intrinsic strategic priority across the whole business as agility becomes critical to survival. The CDO role no longer leads a discrete function.

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Source: Strategy-Business

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