NEW YORK, May 7, 2015 /PRNewswire/ -- According to new data from the CDO Club, the number of Chief Digital Officers (CDOs) doubled from 2013 to nearly 1,000 in 2014, continuing a trend of doubling each year.
The CDO Club forecasts that the number of global CDOs will double again in 2015, to some 2,000 CDOs by the end of the year.
The number of Chief Data Officers also continues to grow, with over 50 new hires in 2014 for a total of 250. The CDO Club projects that this number will also double in 2015.
The data, which can be found here, was presented during CDO Club founder David Mathison's keynote presentation, "Hall of Fame: CDOs Who Have Become CEO and Board Directors," during the 3rd annual CDO Summit, sponsored by Capgemini, on Wednesday, April 29, 2015, and hosted at Thomson Reuters in New York City.
Mathison revealed that in Q1 2015 alone, three CDOs took on the CEO title and four CDOs joined boards.
"Incredibly, in total, that's already as many as all of 2014, when five CDOs became CEO and two became Board Directors/NED," Mathison remarked.
The CDO Club is the only organization tracking the CDO to CEO and Director/NED career trajectory.
Mathison's keynote included the following statistics on CDOs in 2014:
The advertising sector claims the largest percentage of CDOs, with 36%, followed by media (18%), publishing (13%), nonprofit (10%), retail (7%), financial (4%), and services (4%).
Globally, 68% of CDOs are located in North America (significantly down from 88% in 2013), followed by 23% in Europe (up from 7%); 6% in Asia; 2% in MEA; and 1% in South America.
The number of Chief Digital Officers in the United Kingdom has also doubled, from 35 in 2013 to 70 in 2014. The CDO Club projects this number will double yet again in 2015.
81% of CDOs are male, 70% are Caucasian, and 98% are between 30 and 59 years old, with 54% being between 40 and 49, roughly the same as last year.
54% of CDOs hold a BA degree, 12% an additional MA, 26% an MBA, and 9% a PhD.
To better understand this CDO-to-CEO career path, Mathison reviewed hundreds of CDO profiles, and found that:
60% of CDOs in the ad sector were previously CEO, President, GM, or Managing Director.
30% of CDOs in the media sector were previously CEO, President, GM, or Managing Director.
Mathison said, "The Harvard Business Review reported that only nine companies—less than 2%—of the Fortune 500 have boards that are considered to be 'highly digital.'
"So if your board is looking for a digital Director—and it should be—the CDO Club is a great place to start your search," he concluded.
For more insights from the CDO Summit, simply join the CDO Club, which gives members access to video and photos from all panels and keynotes not only from this NYC event, but from every single CDO Summit since its inception.
The next CDO Summits will be held on September 9, 2015, in Amsterdam, and on October 12, 2015, in London. Mark your calendar.
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About the CDO Summit
The CDO Summit addresses the challenges and opportunities arising from Big Data, the cloud, digital disruption, and social and mobile media. Our gatherings include the best digital strategists and practitioners on earth, in intimate, collegial, and supportive environments designed to encourage networking, learning, and knowledge-sharing. More: http://CDOSummit.com