Discover the Rapid Rise of Chief Product Officers: How CPOs
Increasingly Own P&L, Deliver Value to Shareholders, and Drive
Innovation Decisions In Fortune 1000 and Large Enterprises
SAN
FRANCISCO, June 17, 2024 /PRNewswire-PRWeb/ --
Products That Count—a global network that helps 500,000+ product
leaders accelerate their careers—released its 2024 CPO Insights
Report, revealing the importance of the Chief Product Officer (CPO)
role in accelerating digital transformation and driving business
results.
"We're in the middle of a massive
revolution. Companies that don't figure out their strategy and
rethink their business activities will find themselves irrelevant,"
says Niemi. "The Chief Product Officer is the Commander in Chief of
this revolution."
Produced in partnership with Capgemini—the global leader in
consulting, technology services, and digital transformation—the
2024 CPO Insights report highlights key trends in product
leadership based on more than 1,000 interviews and roundtables with
CPOs. Products That Count CPO, Renee
Niemi, one of the first-ever Fortune 500 CPOs, interviewed
the product leaders throughout the 2024 CPO Awards cycle.
"We're in the middle of a massive revolution. Companies that
don't figure out their strategy and rethink their business
activities will find themselves irrelevant," says Niemi. "The Chief
Product Officer is the Commander in Chief of this revolution."
Key Report Highlights:
- By 2027, 30% of Fortune 1000 CEOs will be former CPOs, up from
5% today.
- 70% of CPOs surveyed manage a P&L, up from 31% last
year,
- 20% of CPO Award winners are promoted to President within a
year.
- Companies with a CPO outperform peers without a CPO, shifting
digital strategies for innovation and market share.
- CPOs are driving companywide AI agendas, leading to significant
business impact.
In the three years that Products That Count has published this
report, the trend of Chief Product Officers (CPOs) being promoted
to President and CEO is accelerating rapidly, outpacing other
C-suite roles. CPOs are now leading AI initiatives, shifting from
planning to implementation. Notably, firms with a CPO outperform
the market, making the CPO-to-CEO progression a natural development
that has captivated investors and shareholders.
The full report is available for free on the Products That Count
website here.
ABOUT PRODUCTS THAT COUNT
Products that Count is a 501(c)3 nonprofit that helps everyone
build great products. It celebrates product excellence through
coveted Awards that inspire 500,000+ product managers and honor
great products and the professionals responsible for their success.
It accelerates the career and rise to the C-suite of >30% of all
Product Managers globally by providing exceptional programming –
including award-winning podcasts and popular newsletters – for
free. It acts as a trusted advisor to all CPOs at Fortune 1000 and
publishes key insights from innovative companies, like Capgemini,
SoFi, and Amplitude, that turn product success into business
success. Learn more at ProductsThatCount.com
Media Contact
Katrina Cameron, Products That
Count, 1 6198087078, katrina@productsthatcount.com,
http://productsthatcount.com/
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SOURCE Products That Count