Make Room For One More in the C-Suite 4 Years, 4 Months ago
Make more room in the C-suite. Amid the recession, here comes the surge of the Chief Commercial Officer. The number of CCO appointments globally has risen from a handful a decade ago to some 100 over the last three years, and 50 of those came in 2008, reports recruiting firm Heidrick & Struggles.
Who is this guy or gal? The single executive at the right hand of the CEO, whose sole job is to drive growth and to ensure integrated commercial success.
The best-in-breed CCOs are quickly becoming a "secret weapon" creating significant competitive advantage because of their purview and control of the entire commercial process. The CCO must be a strong leader equally adept at setting corporate strategy and ensuring the implementation success of the initiatives and resources required to deliver the desired in-market results.
This position is not without pitfalls. Different industries have different cultures. Once put in charge of the commercial spectrum, CCOs must negotiate the politics of strong cultures, maintaining appropriate balance, and integrating them into a smoothly functioning whole. Wearing many hats is a requirement. You better be confident, look at the commercialization process holistically, and have experience with and thrive on the responsibility of a GM role, and be a great long-term strategic planner.
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