NEW YORK, July 30, 2019 /PRNewswire/ -- AVADO, a global edtech company redefining professional learning in the digital age, today released AVADO's "Transformation in the C-suite" data; a comprehensive look at the composition of the executive teams at 2019's Fortune 100 companies over the last 6 years. The research uncovered that large enterprises are revolutionizing the composition of their leadership in response to an increasingly complex business landscape.
C-suite positions related to data, digital and transformation oversight have exploded, growing by more than 289% since 2013. These leaders have been hired to future-proof business models during the 4th Major Industrial Revolution. Of this new generation of C-suite titles, Chief Data Officer is the most popular, currently present in 18% of Fortune 100 leadership teams.
The fastest growing data, digital and transformation positions within the C-suite included:
Chief Learning Officer – 900% growth
Chief Digital Officer – 867% growth
Chief Data & Analytics Officer – 500% growth
Chief Innovation Officer – 500% growth
Chief Transformation Officer – 500% growth
Consumers are demanding more digital and personal experiences at every touchpoint with the enterprises they interact with. As a result, the size of the average Fortune 100 C-suite has increased 90% since 2013 to include new data and digital leaders.
"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 recognize 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."
Additional key findings include:
Ready for the future: Pharma/healthcare (16%), insurance (14%), retail (14%), and financial services (11%) are most likely to have C-suite positions in place to face digital transformation head-on (compared to 4% in other industries)
Newly elevated leaders: 76% of Chief Digital Officers have been in the role for two or fewer years
Embracing new roles: On average, CPG enterprises have the largest C-suite size (16 executives)
"The addition of digitally-focused leaders in the C-suite of these companies marks the start of a new era of senior leadership," continues McKinney. "However, today these leaders are not elevated to C-suite status in the majority of Fortune 100 companies and, despite its growth, only 6% of these businesses currently have a Chief Transformation Officer. Failure to adopt digital leadership positions will leave businesses unprepared for 2020."
AVADO compiled their "Transformation in the C-suite" data using only publicly available channels related to the Fortune 100 companies. To learn more about AVADO, please visit AVADOLearning.com/us.
AVADO is a change agent at the forefront of a global need for transformation.
As a global EdTech company with six international offices providing expert training in more than 60 countries, AVADO delivers its industry-leading platform as well as in-person programs through its international network of expert facilitators.
With clients that include Citi, Merck, CNN and Dentsu Aegis, AVADO offers a diverse portfolio of programs that build professional skills, enhance digital culture and increase capability in a wide variety of fields, including digital business, marketing, human resources, finance and data.
AVADO programs combine award-winning educational-design expertise with industry-leading content, experts and partners such as Google, Tableau and CIPD. AVADO's world-class platforms offer a unique learner experience that drives measurable success on a global scale. With more than 30 years of experience providing solutions, AVADO's specialized approach means organizational transformation has never been more achievable. To learn more, visit www.avadolearning.com.