“For Wall Street, the CDO was a machine that turned lead into gold” – Michael Lewis, The Big Short: Inside the Doomsday Machine
Chief Digital Officer, Chief Technology Officer or even Director of Digital Operations; there are differences in the choice of title. But the trend is very clear: more and more companies are adding top-level managers to take care of the implementation of digital transformation. The growing number of new digital bosses in these corporations shows one thing - companies have understood how important a consistent and centralized digital strategy is.
In an interview with WHU Inside Business, Dr. Rahmyn Kress, CDO of Henkel, highlights the importance of a CDO in digitally transforming the organization. After all, digitization is about much more than just the introduction of new technologies or implementation of individual measures.
In large companies, the focus is often on political and financial issues that cannot be dealt with at a departmental level. Dr. Rahmyn Kress mentions that the focus at Henkel is cultural change, which is driven from within the organization. This touches various aspects such as innovation, investment strategies and business optimization using digital technology.
The hope is that this trend will continue, because only consistent digitization leads to the cultural transformation that is required to stay ahead in the digital age. In the words of Dr. Kress - “Ultimately, everybody has to participate in the change that we are all living through.”