Gone are the days when product management was a siloed discipline, tucked neatly under the wings of the Chief Marketing Officer. Let’s find out why the demand for product leaders in Europe is on the rise and unlikely to decrease anytime soon.
Product leaders are becoming the new architects of the digital era. Over one-third of Fortune 100 Companies have appointed a Chief Product Officer, which represents a 41% growth rate over the past three years.
It is obvious that in today’s fast-paced business environment, companies in Europe are relying on digital technologies to innovate and stay competitive. As a result, leaders who understand how to leverage technology for product development and enhancement are becoming the main trend.
But what are the key attributes that drive companies when seeking a Chief Product Officer?
1. Cross-Functional Chief Product Officer Leadership
Product leaders frequently collaborate across diverse departments, incorporating insights from teams such as marketing, sales, or engineering. This cross-functional leadership is one of the reasons why board members want to have them by their table.
Especially during the launch of new products, the guidance of a skilled Chief Product Officer becomes invaluable as their leadership approach can represent a catalyst for elevating innovation within your company. It’s not surprising that the demand for such leaders in Europe constantly rises, especially in the tech field.
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2. Chief Product Officer with a customer-centric approach
If it’s not focused on your customers, don’t do it. The mantra is followed by the Chief Product Officer. Hence, the experts continually monitor customer requirements and translate them into product features and enhancements.
With the support of a Chief Product Officer, your company consistently operates with up-to-date data, enabling informed decision-making. As companies continue to seek individuals capable of effectively explaining data and guiding the company in the right direction, the demand for these leaders is likely to increase.
3. Agility on top
Once product leaders understand their customers’ needs, swift response becomes imperative. Currently, companies demand leaders who can adeptly adjust their plans with agility.
An illustrative segment in this context is the consumer electronics manufacturing sector, where we frequently witness companies achieving success with tech leaders who can implement effective agile strategies.
The surge in demand for product leaders in Europe is undeniable and appears poised to persist. The key attributes driving companies to seek Chief Product Officers include their cross-functional leadership skills, customer-centric approach and ability to adjust strategies with agility. Particularly during new product launches, the guidance of skilled tech leaders proves invaluable, acting as a catalyst for elevating innovation within companies.
About the author
Paul Koudijs is a member of the TMT & High-Tech practice at Neumann Executive. He specializes in leadership, senior management and technology executive roles for the IT, Technology and FMCG/CPG sectors.