2024 CPO Insights Report

The “2024 CPO Insights Report” was sponsored by our partners at Capgemini and Mighty Capital.

Introducing the “2024 CPO Insights Report,” produced by Products That Count. This report is created in partnership with Capgemini, a leading business and technology transformation consultancy, and Mighty Capital, a venture capital powerhouse. The report compiles insights from over 1,000 in-depth interviews and executive roundtables with Chief Product Officers (CPOs), focusing on the critical role of product management within Fortune 1000 companies. Moreover, the increasing significance of this function continues to inspire us and confirms the trends we’ve been highlighting for the past several years.

Topline Takeaways

1. Rapid Increase in CPOs: The number of CPOs within Fortune 1000 companies has increased 10X over the past 3 years, with over 40% of these companies now having appointed a CPO. This expansion underscores the strategic importance of product management in today’s business landscape.
2. Pathway to Leadership: Our research reveals that 70% of CPOs manage a P&L, achieving this milestone three years sooner than predicted. Furthermore, companies promote 20% of CPO Award winners to President within a year, illustrating a clear path from product leadership to top executive roles.
3. Business Performance: Companies with a CPO consistently outperform their peers. These companies leverage digital strategies and AI not just for cost efficiency but for innovation and market leadership, shifting the focus from defense to offense in digital transformation.
4. AI Leadership: CPOs are increasingly owning their companies’ AI agendas. Good CPOs use AI to drive efficiencies. However, great CPOs use it to transform business operations fundamentally and spur market innovation.
5. Diversity and Meritocracy: Merit-based advancement drives the rise of CPOs, promoting greater diversity. Notably, women make up 30% of CPO Award winners, double the number from last year. Additionally, 30% of winners do not hold a graduate degree. This highlights that achievements drive success rather than traditional credentials.

Looking ahead, we predict that by 2027, 30% of Fortune 1000 CEOs will be former CPOs, up from 5% today. This projection highlights the evolving influence of CPOs in shaping business strategy and driving organizational success.

Download the full 2024 CPO Insights Report today to dive deeper into these insights. Explore the transformative impact of Chief Product Officers on business leadership and innovation. Gain access to detailed data, case studies, and expert analysis. Overall, understand the future of product management and its critical role in navigating the complexities of the modern business environment.

Click below to download your free copy of the 2024 CPO Insights Report.

Download the Report here.