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The role of chief growth officers (CGOs), a relatively new addition to the C-suite, has become mainstream across large and mid-size information technology (IT) services companies. As companies look to boost top-line growth while navigating a challenging macroeconomic environment, the demand for dedicated growth leaders has surged.
Companies such as Tech Mahindra, HCLTech, LTIMindtree, US Technologies, and Persistent Systems already have growth officers who report to their chief executives, while Happiest Minds Technologies and NTT Data appointed their growth officers earlier this month.
Japanese IT company NTT appointed Sudhir Chaturvedi, president of global markets at LTIMindtree, as the growth officer and chief executive officer of its North America business.
“Chaturvedi will lead the acceleration of consistent growth strategies globally, with a special focus on global industries, strategic accounts, and joint go-to-market execution with key strategic partners,” the company said in a statement.
Ramkumar Ramamoorthy, partner at tech growth advisory firm Catalincs, said the role of the growth officer is to propel the next stage of growth for many IT firms. “They have reached the top end of the S-curve, and to grow and shape the newer opportunities framed by artificial intelligence (AI), generative AI, and agentic AI, they need to catch the next curve.”
IT firms have struggled to grow in the past two to three years as clients across geographies and business verticals tightened their purse strings and cut back on discretionary spending in anticipation of a global economic slowdown. This has prompted companies to chart new growth strategies, focus on nascent markets, and attract newer clients to improve top-line growth. Adding to this is the fast-changing technology landscape propelled by AI.
“By bridging business strategy with innovation, the CGOs help companies stay competitive in a fast-changing market," said Krishna Vij, vice-president of IT staffing at TeamLease Digital.
The role and responsibility of a growth officer in the IT industry are still loosely defined and vary across companies, executives, headhunters, and analysts. Happiest Minds, for example, said its growth officer will focus on targeting new and large clients to boost organic growth. However, for another IT services firm, the role of the growth officer is more multidimensional, involving sales, branding, marketing, and even defining the go-to-market proposition for clients.
“The goal is to change the growth trajectory of the organisation. The definition of the role is not standardised. In some cases, it is more sales-oriented, while in others, it is more capability-oriented. Sales are not unidimensional anymore, and organisations need to grow in a multidimensional manner after the pandemic,” said a growth officer from another IT firm.
Siddharth Verma, head of the executive search business at specialist staffing firm Xpheno, said the role of growth officers is becoming mainstream across IT services and global capability centres as businesses focus on long-term expansion.
“Their role is to identify new market opportunities, strengthen client relationships, and drive digital transformation through AI, Cloud, and data analytics. By bridging business strategy with innovation, they help companies stay competitive in a fast-changing market,” said Verma.
While growth in revenue, market share, and profitability are key focuses for enterprises, not all CGOs are given a mandate for all three. Other aspects and facets of growth include geographic expansion, product development, innovation, and operating efficiency. CGO roles are also defined and designed around a series of special growth projects and initiatives to be designed and delivered.
