Over the last few years, we have seen emerge new jobs and titles — such as the Chief Digital Officer, Chief Customer Officer, Chief Data Officer — with the arrival of new technologies and a renewed focus on the customer. Along the way, the title of CEO remains unscathed, despite a radically different environment than just 15 years ago for the top boss. Many CEOs continue to reign as if they need to be on top of and in control of everything. In terms of accountability, it can literally be “the buck stops here,” where everything draws to a standstill because of the top-down nature of the organization.
Data in the US shows that the average tenure of a Fortune 500 CEO is now down to 4.6 years (down from 10 years in 2000 – Conference Board report). The job of the Chief Executive Officer is under ever greater pressure because of the confluence of four things: (more…)