Rapid market change, technological disruption, and economic pressures are causing South African companies to no longer be content with incremental improvements to their core operations. To unlock new avenues for growth, businesses are increasingly diversifying by entering adjacent markets and exploring innovative models. This strategic pivot is seeing an increasing demand for a new breed of executive leadership: versatile leaders who can bridge traditionally siloed functions, consolidate efforts, and drive both strategy and execution, a leadership expert says.
“We have seen a noticeable rise in companies seeking leaders who fit the bill for growth-focused roles – executives who can competently span multiple functions, bring diversified experience, and deliver both strategic vision and execution capability to drive growth in uncharted areas,” says Advaita Naidoo, Africa MD at Jack Hammer, Africa’s largest executive search firm.
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She says one of the most notable outcomes of this shift in strategy has been the emergence of hybrid C-suite roles such as the Chief Growth Officer (CGO), Chief Commercial Officer (CCO), Chief Revenue Officer (CRO), and Chief Innovation Officer. Originating primarily in US high-growth scale-ups, these positions are gaining traction in South Africa and other markets as organisations seek to capitalise on opportunities without diluting their core offerings.
“Now, more than ever before, no company can afford to leave the proverbial money on the table. However, the move to capture additional share of wallet is far from low-hanging fruit. It requires significant investment, deep market insight, and disciplined execution – with the right kind of leader an imperative for success.”
Naidoo explains that traditional organisational structures often prove inadequate today, leading to the creation of consolidated growth roles that blend elements (depending on the requirements of the role) and combines expertise that was once siloed into traditional C-suite roles, such as Chief Operating Officer (COO), Chief Financial Officer (CFO), Chief Marketing Officer (CMO), Chief Commercial Officer (CCO), Chief Revenue Officer (CRO), Chief Technology Officer (CTO), and Chief Information Officer (CIO).
These new roles do not yet have a single, universally agreed-upon title, but commonly include designations such as Chief Growth Officer (CGO), Chief Commercial Officer (CCO), or Chief Innovation Officer, Naidoo says.
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These leaders will primarily be required to:
- Identify genuine pivots and new revenue streams.
- Ensure new initiatives supplement the core offering.
- Build cross-functional alignment.
- Execute the heavy lift of market entry across segments.
“Leaders suited for these positions have typically built versatile track records spanning strategy, commercial development, partnerships, sales and marketing, and market expansion. They can code-switch between high-level strategic thinking and hands-on relationship building.
“Leaders aspiring to step into this new field, should ensure they avoid rigid silos by seeking cross-functional and cross-industry experience. They should invest in building their commercial instincts and relationship skills, and work on enhancing their personal brand visibility in C-level hiring trends and industry sectors.”
The emergence of hybrid roles like Chief Growth Officer, Chief Commercial Officer, Chief Revenue Officer, and Chief Innovation Officer signals a maturation in how companies approach expansion, Naidoo says.
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“Core business remains essential, but parallel engines of innovation – led by versatile C-suite executives – are now vital for competitiveness. Organisations that implement these structures effectively will gain significant advantages. And as companies continue to seek new growth frontiers, demand for this new breed of growth architects will intensify.”