CDO today, CEO tomorrow

CDO today, CEO tomorrow

Today’s chief digital officers are on track to becoming tomorrow’s CEOs with digital leaders now commanding double the salary of their predecessors.

B&T Magazine
Posted by B&T Magazine

The rise of digital has seen many businesses undergo organisational restructures with digital no longer a just a function of the marketing department, according to recruitment firm Hays.

“In the last couple of years we have seen the rise of the chief digital officer (CDO), a senior executive who sits at the right hand of the CEO and is seen as instrumental to the future of the organisation,” Peter Noblet, senior regional director of Hays Sales & Marketing, said.

“In many cases, the CDO will be the senior executive handling the fastest growing revenue streams within the business – positioning him or her in line to replace to the CEO.

“CDOs who demonstrate their ability to manage change and transform their businesses could find themselves elevated to the position of CEO.”

However, talent with the digital know-how and ability to ensure all business strategies are aligned with digital strategies are rare. Other attractive qualities include international experience, change management experience and experience in ecommerce, online marketing and social media.

The sharp rise in demand for digital leaders has resulted in an equally steep climb in salary.

“Today’s high-quality digital leaders command double the remuneration levels of their predecessors, reflecting the scarcity of talent and increasing seniority of the role,” Noblet said.

A recent Clarius Skills Indicator found businesses are “starved” of senior managers with digital skills. For more on the report click here.