IT Companies Emulate Start-Ups by Hiring Chief Growth Officers: Report 

IT companies are following the lead of startups and e-commerce firms by establishing a new C-suite role, the chief growth officer (CGO), to enhance growth visibility, as per the Economic Times. This move comes in response to a challenging global economy where clients are hesitant to invest in projects that don’t offer immediate returns. A senior executive responsible for creating and implementing growth-oriented initiatives for a corporation is known as a Chief Growth Officer (CGO). Companies such as Wipro, TechMahindra, and LTIMindTree have all recently appointed Chief Growth Officers. Other companies, such as MindBridge, Allcargo, Xoriant, and Innover, have also appointed Chief Growth Officers. So, what does a CGO do? Primarily, a CGO aligns the company’s vision and goals, drives innovation and experimentation, builds and leads teams, manages resources and budgets, and develops partnerships and networks. Additionally, they focus on continuous learning and adapting to new trends and challenges. Speaking about the role, Nachiket Deshpande, COO, LTIMindtree, told the Economic Times, “The mandate for the chief growth officer is to bring these multiple capabilities together along with the partnership ecosystem. Cloud and AI are only enhancing this need, and hence, this role has become pivotal for success going forward.”Read: Wipro Announces Changes To Chief Growth Office; Stephanie Trautman Steps Down

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