November 2, 2020 in Business, Management & Organization CCO stands for the Chief Commercial Officer, sometimes also referred to as a CBO. The CCO is the new, holistic internal strategist and external spokesperson that CEOs lean on for how the company should interface with its customers to drive growth. An Insider View: What Keeps Hospitality Leaders Up At Night, Rethinking the Nature and Relevance of 'Legacy', A Look Ahead - The Lodging Conference 2019. That’s an average compound annual growth rate of over 8 percent. In simple principle, this means being responsible for aligning commercial strategy and the development of an organization, but in practice it entails a myriad of competencies and activities tied to marketing, sales, product development and customer service, which when properly integrated, drive business growth and market share. One of the latest CxO titles that came up is the Chief Commercial Officer (CCO). In particular, these ten competencies, attitudes and knowledge areas define three high-level dimensions of performance: We calculated the aggregate 20|20 Skills profile for an elite sample of “superstar” CCOs for which AETHOS had first-hand knowledge of outcomes. As the Internet has grown and opened up new avenues for organizational expansion, more companies are finding the need for chief commercial officers with a strong marketing background to … By moving away from a traditional structure where both the sales and marketing functions are bifurcated and instead bringing the functions together under a single point of leadership, businesses are more efficiently and effectively connecting the dots and thus aligning priorities and objectives. CCOs/CROs can be more hands-on earlier in the company’s development and shape the short- and long-term commercial strategies, versus only reacting to the immediate opportunities in front of them. In this newly created role, Declan will lead all originations activities for GECAS’ fixed wing aircraft and is responsible for the commercial strategy, building synergy and share practices between GECAS’ regions. The job is simply to drive growth and ensure integrated commercial … Batteries are helping to optimize the power grid and opening up new applications and services for utilities and service providers. Organizations are increasingly handing their CCO’s global responsibility for four major verticals – global sales, revenue and distribution, e-commerce, as well as brand and marketing communications. At the same time, they can attract the "A players" who are hungry to take new companies to extraordinary heights. The CCO is typically one of the top-level executives responsible for developing, designing, and approving its commercial strategy. Defining the Chief Commercial Officer Profile. The Rise of the Cleantech Chief Commercial Officer. Students who searched for Chief Commercial Officer vs. Chief Marketing Officer found the following information and resources relevant and helpful. Andrew Hazelton, Philadelphia Managing Director, OTHER ARTICLES BY Andrew Hazelton, Philadelphia. Creating a new role in the C-suite isn’t always seamless. CHIEF COMMERCIAL OFFICER This is an executive-level position whose occupant is responsible for the commercial strategy and development of the company. The New Leaders of Innovation in Health Overwhelmed by lifestyle- and age-driven burdens and suffering from diminishing resources, many health systems, care institutions, structures and practices are straining to even maintain let alone improve outcomes. So, what does the future hold for the Chief Commercial Officer? The rise of the Chief Growth Officer is an extension of that trend.” Know your business. More and more, CEOs need a single point of contact on the commercial side: someone who can manage innovation, product development, marketing and sales -- on a large scale, across all platforms, in both the digital and bricks-and-mortar realms. The number of “CCO” appointments has globally slowly risen from five in 2001 to 56. Beyond commercialization, CEOs have many other responsibilities during this critical growth time, not the least of which is fundraising. They are also self-driven, strategic individuals with a good capacity for team-building, respect and sensitivity to others. But this growth is not happening five years from now; it’s happening today. He is responsible for … Thus, the typical VP of sales position is starting to take a backseat to the rise of the smart grid chief commercial officer (CCO) and chief revenue officer (CRO). Leveraging AETHOS’ proprietary psychometric assessment – 20|20 Skills – we can gain insights beyond traditional and outdated personality testing to measure ten core competencies that predict executive-level success. Commercial Real Estate. However, the VP of sales position, as it was defined, was too small to take advantage of all the operation and leadership expertise Mohseni could bring to the company, so Varentec kept looking. 391 Chief Commercial Officer jobs and careers on totaljobs. The aim is to better harness the entire commercial power of an organization and brand. In 2008, it quadrupled. A strong VP of sales is deft at driving the team toward reaching preset targets, with predetermined customer audiences. Free intelligence and insights from industry experts and leading companies on the global energy transformation. This role has complexity, nuance and diversity that transcends that of a President, Vice President or even Chief Operating Officer. In doing so, they have the opportunity to optimize their team to take full advantage of their growth potential. Later, other positions, such as the VP of sales, can be filled to assist the CCO/CRO in building out the strategy and implementing it as the company scales. To protect against future disasters, cities are adding a new job to their governments. President & Chief Commercial Officer, Hyperwallet Peter provides executive support to sales and customer management. Many well-meaning and rationally planned interventions struggle to make a significant or lasting difference. Varentec agreed that he was perfect for ensuring they could meet their sales goals today, as well as four years from now. Additionally, our analysis indicates that CCOs readily have the overall skill-set and DNA to transition to the top role – assuming they are proactively groomed to handle the many subtleties, pressures and issues of executive presence that come with the CEO title. Arguably the role becomes even more specialized in the hospitality industry, whereby internal and external brand promises hinge on a dedicated people-first mentality. The Rise Of The Chief Resilience Officer. Go deep on GTM's hottest topics. Yet in an early-stage company, even the top talent in this field must often still depend on the CEO to design and define the go-to-market strategy to begin with. This has them being passed over by candidates perfect for the job, but who are looking for something larger than just another VP of sales role, and attracting those who just don’t measure up to the expanded requirements. A chief commercial officer is responsible for overseeing product liability issues. The Rise of the Chief Customer Officer [This post is part of Creating a Customer-Centered Organization.] Yet, like any senior level role, having the optimal mix of core competencies is imperative – albeit not always recognized or well defined. He had been on our radar as an impressively qualified candidate, and we knew he would move given the right opportunity. Another title that causes confusion is a Chief Revenue Officer. These highly qualified men and women know how to manage effective sales teams, support them with execution tactics, and step in at key points in the sales process to ensure that deals close. Yesterday it was reported that the Chief Commercial Officer of Kosmos Energy (KOS), Christopher James Ball, exercised options to sell 28,132 KOS … However, the trend is growing to hire this strategic leader earlier, often during the Series B round. Visit PayScale to research chief commercial officer salaries by city, experience, skill, employer and more. We also predict that in due course – maybe over the next five years or so — we will see increasingly more Chief Commercial Officers move into CEO or President roles. In its white paper, 'The Rise of the Chief Commercial Officer,' the executive search firm says it has seen a 'dramatic increase' in organizations looking for a single executive leader at the right hand of the CEO. Establishing the CCO/CRO position early (in lieu of filling a VP of sales) can set up Series B companies for greater success in the long run. Additionally, companies can sweeten the deal and secure in-demand candidates quickly by offering equity, and additional bonuses to protect candidates from pending commissions they may lose by switching companies. The CEO of cleantech recruiter Enertech Search says a CCO or CRO can be the best-kept secret of success during early commercialization. BILLUND, December 21, 2020: The LEGO Group today announced the appointment of Colette Burke as Executive Vice President and Chief Commercial Officer effective January 1, 2021.. Colette joins the LEGO Group from consumer electronics company, Bose Corporation, where she was Vice President Global Sales. Although this trend likely will continue, we anticipate a shift in leaders coming from functional verticals that are closer to consumers. The customer’s voice has a new champion sitting at … By hiring Mohseni in a C-suite role that encompassed operations, sales and marketing, Varentec was able to secure a stellar executive who could fill in the gaps they had, while also driving continued revenue growth. Among the first round of candidates presented was Mehrdod Mohseni, then CEO at UISOL, an Alstom Grid company. “A successful CCO...facilitates the CEO’s focus on fundraising and market evangelizing during these high-growth years of a company.". The average salary for a Chief Commercial Officer is $208,484. 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