APAC

China’s Healthcare and Life Sciences sector going global: Securing the right Executive Leader for expansion strategy

Polaris Xing — Wed, 27 Mar 2024 02:11:56 +0000

China’s Healthcare and Life Sciences sector going global: Securing the right Executive Leader for expansion strategy Polaris Xing

Chinese enterprises are making significant strides on the international stage, driven by the Belt and Road Initiative introduced in 2013. This movement has gained momentum in recent years, especially in sectors such as new energy, consumer technology, and life sciences, highlighting a robust trend of Chinese companies embarking on a globalisation path.

To secure their competitive edge in foreign markets, these businesses are deeply engaged in localisation efforts, spanning branding adjustments to strategic team development. Europe, Southeast Asia, and the Middle East have emerged as key focal points for their international expansion efforts.

The trend of expanding into global markets isn’t exclusive to big players like Xiaomi, Nio, and Shein; small and medium-sized enterprises are also making their mark internationally. This includes companies in the healthcare and life sciences sectors, which are finding significant success abroad.

MedTech industry leaders such as MicroPort, Mindray, Wei Gao, and United Imaging, as highlighted in a recent Deloitte report, are reporting an increasing portion of their revenues coming from international markets, underscoring the global reach and impact of these businesses.

Page Executive Healthcare Life Sciences: supporting our clients’ overseas expansion – recent case study

Page Executive Healthcare and Life Sciences is partnering with Chinese firms in their quest for global expansion by connecting them with top executive talent.

Our commitment to aiding these companies in their international endeavours comes as they seek skilled leaders to navigate global markets successfully. With a dedicated global team of over 30 executive search experts specialising in sectors like Pharma, Biotech, Medical Devices and Diagnostics, as well as Healthcare Services, we’re poised to match the right leaders with the right companies, driving success in their global operations.

In a recent engagement, we supported a leading international healthcare investment firm, still in stealth mode with only a CEO based in Singapore, securing their Senior Vice President of Business Development and Licensing for their operations in China.

Leveraging our expertise, we identified a MedTech professional with significant industry connections within China, fulfilling the client’s needs within an ambitious six-week timeline. This candidate brought a rare blend of commercial background and post-investment management experience in MedTech sector.

Our successful partnership with the firm is set to continue as we assist in assembling their middle-to-senior commercial team across Southeast Asia and the Middle East, drawing upon the specialised capabilities of our Michael Page team.

We currently focus on fulfilling key positions, including a Chief Business Officer for a China biotech company’s CDMO business spin-off outside China, and a Chief Executive Officer for a Southeast Asian pharmaceutical commercialisation platform. These assignments underscore our commitment to connecting top-tier executive talent with transformative healthcare industry roles.

In-demand skills for executives leading the ‘In China for Global Expansion’ initiative

Local expertise: For Chinese companies eyeing global markets, certain executive skills are becoming increasingly vital. Deep local market insights, including connections with local customers and regulatory bodies, as well as a robust local talent network, are critical.
Versatile corporate function background: Executives should also possess a versatile background in corporate functions, particularly in commercial roles, alongside a comprehensive grasp of P&L management, business development, and supply chain operations to meet the ambitious growth targets.
Understanding the nuances of Chinese corporate culture: For companies facing a limited local talent pool, considering candidates with experience in China or with Chinese stakeholders can be advantageous to bridge gaps between headquarters and international teams.

How to attract executive talent to support overseas expansion

Companies need to enhance their visibility and articulate a clear roadmap for growth. In the summer of 2023, PageGroup China ran a global webinar highlighting the key talent challenges for Chinese companies going global. Ahead are some key takeaways.

1. Raise the profile awareness of the company

In today’s interconnected world, a business leading the charts in China might still be charting its course in international waters. To bridge this gap, leveraging online platforms for sharing insights about your business strategies and updates can significantly amplify your global visibility, drawing the attention of elite leaders worldwide.

For ventures operating under the radar, selecting a recruitment partner experienced in handling sensitive information like non-disclosure agreements can be pivotal. Such a partner’s expertise in attracting top-tier talent while navigating confidentiality agreements is invaluable.

2. Bring a clear global expansion road map with confirmed resources allocated.

Success in global markets demands a meticulously planned expansion strategy backed by assured resources. Empowering your executive leadership with the autonomy to inject local market insights and tailor the overarching approach to fit nuanced regional demands is crucial.

3. Partner with a global recruitment specialist

Hiring exceptional leadership for international ventures becomes a smoother process with a recruitment ally with deep roots in China and a worldwide presence. Their strong local ties and global reach make them well-equipped to seamlessly find and attract top talent across borders, enabling your cross-border initiatives to thrive under capable leadership.

With 20+ years of history in the Chinese Mainland and over 40+ years of global operations, Page Executive is proud to support the ‘In China for Global’ trend. Reach out to us to learn more about how Page Executive can support your business's overseas expansion.

Looking to hire your next executive?

Register to download report

How partnerships between contract pharma and pharmaceutical companies evolve with the global vaccine industry

Simone Wu — Thu, 29 Jul 2021 09:19:33 +0000

How partnerships between contract pharma and pharmaceutical companies evolve with the global vaccine industry Simone Wu

The topic of contract development manufacturing organisations (CDMOs) and pharmaceutical companies as strategic partners could not be more acutely relevant as it is right now. Most countries are still grappling with rising COVID-19 cases and large unvaccinated populations. Nations have been going in and out of lockdowns to prevent further spread of the coronavirus, suppressing any optimism of 2021 being any different from 2020, pandemic-wise.

The good thing is, COVID-19 vaccines exist. The bad news, there aren’t enough vaccines to go around, not for everyone. This shortfall, a gap between the scientific solution to the pandemic and the actuality of manufacturing billions of vaccine doses, is alarming – and has highlighted the indispensability of CDMOs.

This has further highlighted the role a CDMO can play to drive the identification and development of swifter treatments for both existing and novel diseases.

To say that the vaccine and CDMO landscape has undergone a sweeping transformation is an understatement. Before the pandemic, the most prominent vaccine players such as GSK, Pfizer, Serum Institute of India and Sanofi resorted to developing and manufacturing most of their doses in-house.

By conservative estimates, since the 1980s, the global CDMO industry has grown more than five-fold to US$100 billion in 2020. These numbers, while impressive at first glance, do not represent the untapped potential of CDMOs. Most pharmaceutical organisations have remained sceptical about partnering with contract manufacturing organisations for vaccines for various reasons. These include exceptionally scientific manufacturing processes, the inability to conduct a safe technology transfer, and the lack of proficiency and know-how with certain CDMOs.

The onset of COVID-19 and the race to develop a vaccine may have potentially changed this dynamic forever. In the last few months, pharmaceutical organisations have scrambled to manufacture vaccine needs at record speeds, with governments and international agencies, too, getting involved as global health, politics and vaccine diplomacy converged.

With global vaccine demand outstripping combined COVID-19 vaccine manufacturing capabilities, pharmaceutical organisations have turned to a previously underutilised partner: contract manufacturing organisations.

AstraZeneca, Moderna, Pfizer and others have announced partnerships with CDMOs to boost production capabilities exponentially. Moderna had announced partnerships with Lonza and Catalent, two of the world’s largest contract manufacturing organisations, to manufacture its COVID-19 vaccine. The clinical-stage biotechnology company has now extended those partnerships to potentially cover other vaccine candidates in the pipeline.

AstraZeneca, too, is in talks to shift the production of its COVID-19 vaccine from Emergent BioSolutions’ troubled Baltimore plant to Catalent’s facility in Maryland.

This spurt in demand for contract manufacturing services has, in turn, triggered a keen battle for talent in the space as the expansion of these CMO facilities goes into Asia, Europe and the US. With an already limited candidate pool in this segment, organisations could look to life sciences equipment organisations to hire.

Pharmaceutical organisations have turned certain facilities into CDMO to facilitate the manufacture of the COVID-19 vaccine, which is technically a competitor’s product. Novartis, which does not operate in the vaccine space, has opened its facility in Stein, Switzerland, to help aid the manufacture of the Pfizer-BioNTech COVID-19 vaccine. To be precise, Novartis will complete the final step in the process, that of the sterile filling of the vaccine into the vials.

It has not been smooth sailing. Emergent BioSolutions got itself into hot water after a manufacturing error forced the discard of 15 million COVID-19 vaccine doses it was manufacturing for Johnson & Johnson. Worse, the FDA ordered Johnson & Johnson to toss an additional 60 million doses manufactured at the same facility.

This incident, while isolated, obliquely brought back into focus the potential pitfalls of the relationship between pharmaceutical companies and CDMOs. With that said, this is the opportune moment for CDMOs to lay the groundwork for developing deeper strategic partnerships with pharma companies, and perhaps once and for all, alleviate concerns on their ability to deliver when it most matters.

Looking to hire your next executive?

Register to download report

Conversations with Executives: Embracing risk and change

Anonymous — Wed, 07 Jul 2021 09:37:15 +0000

Conversations with Executives: Embracing risk and change Anonymous (not verified)

In our series Conversations with Executives, executives share some of their triumphs, challenges and wisdom with regards to making bold career moves. In this feature, Arsalaan (Oz) Ahmed, Chief Executive Officer of Al Rajhi Bank, shares what he has accomplished in the first 30 days as the bank’s new CEO, as well as what he has planned for the next two years.

Q: What kind of person are you?

If I told you what kind of person I am, it would be very different from what other people think. I’d like to think that I am the type of person who believes in the ability of humankind to progress. That’s really at the core of me as a person.

When the Page Executive team approached me, they were very professional and came prepared with good briefs and lists. That gave me the confidence I needed to pursue this career move and assured me that I could smoothly start my career in the new company.

Q: What motivates you?

One thing that really motivates me is making progress and making a positive impact on the society that we all live in. It’s about being a part of that change and, in this case, working within the banking industry.

Q: What fears do you have?

My biggest fear is stagnation and just wading through treacle in my working life, as well as my personal life.

Q: What was your first reaction when you were approached for this new role? What made you decide to move to another CEO role, especially during a pandemic?

My first impression, when I was first approached for this role, was actually very positive. I get approached on LinkedIn quite a lot for roles, but I seldom respond to them. Even if I do, it’s after a very long time. However, when I responded to Michael Page, I received one of the nicest notes that I have ever received from a recruiter. I just felt compelled to respond. I need to thank Michael Page because had it not been for that note, I would have dismissed it. I wouldn’t be on this journey.

Also, I think this is the best time to take on a new leadership role. You can do a lot of things in a time when everything is flowing fine. And you can ride on the coattails of an organisation. But to come to an organisation during a time when there’s trouble from a macro perspective, and then be able to lead a transformation and change the agenda there — that’s really exciting. That’s the type of leadership role that I look forward to and thrive in.

Q: What have you done in your first 30 days as a new CEO?

My first 30 days was very exciting here at Al Rajhi Bank. The first thing I did, which I always do in new roles, is to try to meet as many of the employees here as possible. Actually, because of technology, it’s been a lot easier. I think it’s really important to do that. Firstly, you need to hear from your people. Secondly, you need to tell them some things that are going to happen, though not right away. The last thing is that you need to bring people along for the journey, the one that you are taking yourself. Typically, when there is a new CEO, you do take the organisation in a different direction, and change is challenging for all of us in our professional and personal lives. I think it’s really important in the first 30 days to meet as many of them face to face as possible.

Q: How do you see Al Rajhi changing in two years, and how do you see yourself creating that change?

Within two years, Al Rajhi Bank will be an award-winning bank in Malaysia. In order to make that happen, the best thing that I can do is to set out with a very ambitious agenda. Or, as I like to call it, our greatest imaginable challenge. The second thing is to bring people along for that journey, which I mentioned earlier. But I want to take a quote from Alfred P. Sloan. He roughly said, and I paraphrase, we pay people for their hands but imagine what will happen if we unlock their minds. Bringing people along for the journey is not just saying, look, we want to get here. How we get there and how well we do on that journey is really a function of the people that work within an organisation. And the last thing I can do is to provide a mirror and a challenge.

So, what we are going to do is to run the bank, constantly challenge ourselves and find better ways to do it. Also, along with running the organisation, we need to face the challenges the sector and industry are experiencing, particularly around technology, and provide an exciting agenda and process to ensure that we are always relevant in that space. That is what I hope to accomplish in the next two years as we seek awards in this space.

This interview was conducted by Ean Teh, Associate Principal at Page Executive, Industrial practice. With over 4 years of executive search experience, Ean has participated in numerous senior executive-level assignments for both privately held and publicly traded companies. She is the now the specialist for all IT & Professional Services, Communications & Convergence, Platforms (Digital, Cloud, Software), and Systems & Devices.

Connect with the best companies through Page Executive now: https://www.pageexecutive.com/job-search

The Healthcare & Life Sciences sector in China is booming

Anonymous — Tue, 08 Jun 2021 06:07:52 +0000

The Healthcare & Life Sciences sector in China is booming Anonymous (not verified)

China's domestic Healthcare & Life Sciences (HLS) sector has experienced unprecedented growth in the last five years, especially in terms of investments, innovation acceleration and business expansion. Just some 15 years ago, the Chinese domestic pharmaceutical sector was focused primarily on generic drugs, replicating the success of global off-patent medicines and driving commercial success.

In recent years, however, the approach has changed to pharmaceutical innovation, therapies and breakthrough advancements ‘in China, for China’ to ‘in China, for global.’ Recently, we saw Eli Lilly in a licensing agreement regarding a pre-clinical asset from Fosun pharma. Among the global list of the top biotech IPOs in 2020, six were Chinese biotech companies, which raised a total of over US$2.7 billion. Considering what we know of the market, we should expect more exciting news in 2021.

These sector trends have resulted in high talent mobility among domestic pharmaceutical players and multinational corporations alike. According to PageGroup's Talent Healthcare Survey 2020, which was conducted among senior leaders with over 15 years of industry experience, over 80% of our respondents considered joining a domestic company in the healthcare field.

Already one of the largest healthcare markets in the world, China is now set to become one of the key drivers for global pharmaceutical innovation. Driven by favourable government policies towards the healthcare sector and the abundance of capital market investment resources, this rapid development has resulted in talent gaps and emerging jobs that have never existed in China before.

Coupled with the rapid augmentation of new technologies, such as gene and cell therapies and mRNA vaccines, these have led to massive talent deficits in China’s HLS market, especially for drug discovery, clinical development, Chemistry, Manufacturing and Controls, as well as the biomanufacturing scope. As such, the global talent pool becomes a significant source of candidates for some jobs, and mobility is essential.

When it comes to the Chinese pharma and biotech market, I have noticed several trends, specifically in the HLS sector:

Overseas Chinese with long-time careers abroad are coming home to participate in fast-growing innovations within the biotech sector. Companies are preferentially hiring candidates with a Chinese background to ensure a cultural fit
Senior-level talents, both locally and globally, are leaving multinational pharma companies, where they have reached a career ceiling, for a more dynamic domestic pharma and biotech environment
The contracting model is relatively new, and some overseas returnees on temporary assignments in China are subject to regulations from authorities. With that said, the overall market has the potential to grow in the coming years
As Covid-19 lockdowns minimally impacted China in early 2020, employees returned to offices between April and May at full capacity. However, some multinational companies adopted flexible working arrangements in accordance to their global policies

When it comes to internal talent mobility — or cross-functional mobility within the company — we have seen such examples in the pharma and biotech sector here in China, but more among middle- to senior-level roles. Possible transition happens between research and business development or the sales and marketing functions.

However, as the HLS sector is highly science- and technology-driven, some jobs are being created following business scale up (the company moving from the clinical to the market stage) and industry development (launching a cell therapy line). These roles cannot be filled by internal mobility, so hires must come from outside the market.

For overseas Chinese talents, especially for those who moved to the US in the late 1980s or early 1990s and have been developing their careers in big multinational pharma or leading academic institutions, moving back to China in a senior leadership role equates to new career prospects. They go from being an employee to becoming a business leader and entrepreneur. They also take on more prominent positions within a multinational team. Another critical factor for this type of move would be a passion for joining the ‘innovation in China for Global’ trend.

Due to a lack of qualified candidates based in China, our clients have had to reach out to overseas Chinese talents to fill skill gaps in the biotech industry.

A candidate-driven biotech market

The vibrant Chinese biotech industry is lacking talent for innovative therapies. Due to gaps in the domestic training system and a lack of qualified candidates based in China, our clients have had to reach out to overseas Chinese talents to fill these skill gaps.

As a result, China’s HLS sector has become a highly candidate-driven market. Companies wishing to attract high-calibre talents, both from locally and abroad, are offering competitive compensation packages. Attractive cash and equity offer act as incentives for professionals to join the biotech industry.

For our candidate pool, the HLS sector is an exciting field for prospecting talent. However, it also comes with various unseen challenges. In our daily practice, we focus on not only checking off boxes against a candidate’s CV or aligning industry-level compensation, but we also look at the candidate's culture fit with the future employer.

For talents making the first move from established pharma to the biotech industry, we put extra effort to provide professional guidance on understanding the equity part of the package. We also evaluate the long-term stability of the biotech startup and analyse values and culture fit with the founding team and style of the leading investor. This is especially relevant for scientific and medical background talents whose value system is different from other professionals.

For our clients, this emphasises the importance of engaging with a trusted professional. The candidate will act as an extension of the business team, represent the business and employer’s brand correctly in this highly competitive market. In addition, a recruitment partner should be able to explain the company’s story and future goals, distinguish its pipeline from competitors, and motivate the right candidate to fit.

According to PageGroup's Talent Healthcare Survey 2020, which was conducted among
senior leaders with over 15 years of industry experience, over 80% of our respondents
considered joining a domestic company in the healthcare field.

Return to the home country

Understanding the Chinese culture and being proficient in the language is crucial to developing the Chinese biotech and pharma market. Therefore, unlike five to 10 years ago, pharma and local biotech companies now prefer ethnically Chinese talent. These candidates include both local and overseas Chinese who are proficient in the language and familiar with the culture.

One big trend in the last five years has been returning Chinese professionals living overseas to drive local innovation. They are moving back to China for leadership roles in the fast-growing healthcare sector, bringing their global expertise with them. Considering the fact that many of our clients are developing new therapies ‘in China for global,’ hiring senior leaders with international clinical and regulatory experience is critical for their business success. Therefore, this shift is especially prevalent for Chief Science Officer or Chief Medical Officer positions.

It is crucial to understand that the industry is still facing challenges related to international relocation to China because of travel and visa restrictions. For instance, it may take a senior professional with a non-Chinese passport in the healthcare industry, whose necessity for business advancement is critical and verified, up to six months to get all the documents prepared and have a work visa issued.

Even after all that, the possibility of getting the work visa rejected is still high. With the global effort to accelerate vaccinations, we stay updated on the Chinese government’s step-by-step relaxation rules for incoming business travel. As an interim solution, some of our clients hire remotely for functions like Clinical Development, Regulatory and Business Development with a commitment to relocate once the borders open.

Change is coming

Despite challenges in global mobility caused by the Covid-19 pandemic, candidates interested in careers in China should network with qualified healthcare-dedicated recruiters. Mobility to China has never looked better with its highly advanced industry and multitude of opportunities.

Ultimately, the authorities will lift the restrictions. Therefore, it is vital to have valuable industry insights from a trusted recruitment partner to find the right opportunities beforehand. Also, it would be wise for junior and middle-level talents to accumulate experience and develop a robust professional foundation with global multinational companies before moving into the fast-growing biotech sector in China.

As China’s healthcare market is talent-driven, we have fewer candidates than available jobs. Thus, clients need to cooperate and compromise on some of the requirements for hard-to-find talents. We recommend that clients provide flexible solutions to engage suitable candidates coming back to China from overseas while it is still challenging to enter China due to Covid-19 restrictions.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Desktop skeleton

Conversations with Executives: Stepping outside of your comfort zone

Anonymous — Tue, 09 Feb 2021 06:54:07 +0000

Conversations with Executives: Stepping outside of your comfort zone Anonymous (not verified)

As part of our series Conversations with Executives, executives share their triumphs, challenges and wisdom regarding making bold career moves. In this feature, Kavin Janparamakit, General Manager for Beauty Care Business of Henkel Thailand, talks about embracing change in this digital era, drawing on support from loved ones, and pursuing your dreams.

Q: How did you feel about changing jobs in the middle of a pandemic?

In the beginning, when I got approached, I felt unsure. In these unprecedented times, we cannot predict the future, especially when it comes to the business side of things.

Q: What were some of the thoughts and challenges that crossed your mind about making this career change?

At that time, I had worked at my previous company for four years. I knew if I switched jobs, it would mean that I would have to step out of my comfort zone. In the end, I decided to pursue it because this role that Page Executive presented would allow me to learn and grow in my career.

I had many questions throughout the entire process, but the Page Executive team was always there to answer my questions. They reassured me and kept my mind at ease. That gave me the confidence to move forward.

Q: How did you overcome the challenges?

It’s about having faith in myself. I had a lot to think about: Aside from the entire process of securing the new role, I also have to think about the work, the job and my family.

My wife is the one I consult on all my career moves. She was the one who encouraged me to go for this role in the first place because she knew it has always been my ambition to become a general manager. With the help and support of my wife, I know I will rise to any challenge.

Q: In your opinion, which aspect of the virtual interview and recruitment process was different from what you initially perceived?

Virtual interviews are a new thing for me, but it is the new normal for everyone now. In the past, I did all my job interviews face-to-face. This shift to a virtual interview has changed the recruitment process. Now, employers can connect with potential hires from around the world.

When I interviewed for my current role, one interviewer was in Singapore, and the other in China. It was quite a challenge for me to make sure that everyone present at the interview was on the same page. I wanted to make sure that everyone understood what I said, and I wanted to showcase my strengths.

Q: Now that you’ve been in the role with Henkel for six months, what are some of the tips and advice you would like to give to other executive candidates?

You have to be yourself, regardless of the organisation you are applying to. You will undoubtedly have to pick up new terminology, learn new skills, and adapt to the new organisation’s culture, but always remember to stay true to yourself while you are at it.

I also want to encourage everyone to step out from your comfort zone and challenge yourself. Don’t be afraid to take that next step in your career, and when a recruitment agency approaches you, don’t be apprehensive about talking to them.

Q: How was your onboarding process with Henkel? Was it done virtually as well or were you present in the office?

My onboarding process was a combination of face-to-face meetings and virtual ones because some team members were based in different locations. My boss and colleagues in the factory were also based in a different country, so we virtually connect with them. However, for the local operations, we were able to meet each other at the office.

This interview was conducted by Ellen Chang, Research Team Lead at Page Executive, Consumer and Technology practice. She is passionate about unlocking leadership potential and her work focuses mainly on talent assessment and development, driving top team effectiveness, shaping organisation culture and executive search across Asia Pacific. Having studied in the UK, she brings a global perspective and network to helping clients.

Connect with the best companies through Page Executive now: https://www.pageexecutive.com/job-search

Conversations with Executives: Identifying opportunities in difficult times

Anonymous — Mon, 18 Jan 2021 03:41:02 +0000

Conversations with Executives: Identifying opportunities in difficult times Anonymous (not verified)

In our series Conversations with Executives, executives share some of their triumphs, challenges and wisdom with regards to making bold career moves. In this story, Junius Tampubolon, Managing Director at OMRON Indonesia shares the importance of identifying opportunities in difficult times and adopting a positive mindset.

Q: Living through a pandemic and changing your career are both major life events. How did you make sure you are prepared to do it while also dealing with all the other stressors COVID-19 has brought?

I think we need to have a right mindset to deal with these difficult times and I have always believed that there are opportunities present, event in these difficult times. Adapting to new things and staying positive and confident in yourself are essential to conquering the challenges at hand and deal with these changes. Having the right mindset and attitude are key to excelling in these tough times.

Q: In your opinion, what was the most essential support from Page Executive during this entire journey?

This recent recruitment process was a long journey but I think there were some takeaways from this experience. What I do want to highlight is that Page Executive provided very clear information on the company profiles. This is very critical information that I need to have in order to make a good decision. Also, they gave us more insight to the hiring process, a very important aspect to understand because it allows us to know what to prepare for and what would be the outliers that will be faced during this process.

The agency bridged communication between myself and the company, helping me to better understand the key expectations that come with this role, which gave me a greater chance at success through the hiring process.

Last but not least, Page Executive also helped me in providing some tips on how to deal with the interviewers and this allowed me to make very solid preparation, something that I'm very grateful for. I'm very thankful for the support provided to me.

Q: What is your long-term outlook for the Indonesia market in year 2021?

I think the market and industry will remain uncertain. However, if you look at the Q4 last year, we can already see a visible recovery trend there. If this trend brings positive sentiments then if the momentum continues through 2021 and with the vaccine distribution starting in January ‘21, we would expect a faster market recovery.

Depending on which industry, the growth projection will be about 20 to 30 percent.

This interview was conducted by Ean Teh, the Research Team Lead at Page Executive, Industrial practice. She has gained more than 3 years of corporate experience working in the US and Singapore. Now she is leading the in-house research function, focused on managing and recruiting leadership talent for organisations across Asia Pacific region.

Connect with the best companies through Page Executive now: https://www.pageexecutive.com/job-search

Back to the future: The Asian CFO in the New Normal

Anonymous — Fri, 02 Oct 2020 07:29:55 +0000

Back to the future: The Asian CFO in the New Normal Anonymous (not verified)

Asia has dominated headlines for the past few months as companies around the world tune in to the region to see what might happen next. As a global trendsetter and innovation pioneer, Asia is an epicentre for international companies and candidates who want to stay ahead of the curve.

Through the lens of our Page Executive Eight Executive Trends, and as the region settles into the new normal, let’s glance at what the future might hold for CFOs in the region.

Executive Trends
in Finance

Download the Full Report

STEERING THE SHIP

In Asia, today’s CFO can no longer shut his or her office door (even remotely) and quietly juggle numbers. Even before the pandemic, financial leaders were evolving to become direct deputies to the CEO, advisors to the board and team leaders. As the new normal becomes the here and now, CFOs must adeptly manage costs and cash-flow, communicate clearly and offer strategic advice as companies cautiously look forward.

GEARING UP FOR GROWTH

It may not be business as usual, but many Asian markets are revving back up. China leads the way, and Singapore is getting “back” to normal. While some countries within South East Asia and India still have tight social distancing measures and border restrictions, we see improvements and a path forward.

As they glimpse new growth opportunities, Asian companies are keen to hire and develop local talent. They’re seeking strong, commercially savvy, strategic CFOs with regional and international exposure and digital prowess. So, as more Asians return home due to the COVID situation, they’re finding companies in need of forward-thinking, data-driven leaders who can drive transformation.

FROM ACCEPTANCE TO ACCELERATION

Consumers and employees in Asia – especially in China – are accustomed to digital transformation when it comes to how they live, work and shop. In emerging markets like Vietnam, Thailand and Malaysia, the pandemic has instilled a new level of acceptance and appreciation for digital tools.

National governments are encouraging companies to adopt digital strategies and to ensure better communication. Work-life balance is also becoming a hot topic and the CFO has a central role in steering growth while motivating and engaging teams that work remotely. People in Asia often spent an hour or two commuting to the office, and the rise in remote work, has removed this pressure, but it has also created an “always-on” work culture. CFOs must carefully balance expectations with empathy.

FROM PROFITS TO PROGRESS

Companies and candidates in the region must be agile and focus on purpose, as well as profits. Tomorrow’s CFO will be called upon to use their data-smarts to make decisions, but also to prioritize employee engagement and customer experience. It’s an exciting and exuberant time to be a CFO in Asia, and one in which a finance director has the opportunity to make a difference across all levels of a company.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Desktop skeleton

The Future of Retail Sourcing in Asia

Anonymous — Thu, 24 Sep 2020 12:37:06 +0000

The Future of Retail Sourcing in Asia Anonymous (not verified)

Organisations and individuals who, at the start of the year, felt secure in their market and company position have had to think again. The pandemic has completely turned the industry on its head and has led businesses to drastically change what Sourcing actually means to the company. The conversations I have had this year have been reminiscent of those in 2007-2008 but with less marginal optimism that was present then.

The disruption in 2020 has also allowed companies and individuals to look internally, addressing business sustainability issues that many previously chose to procrastinate over. For example, with the increased activity in e-commerce, the traditional way a supply chain delivers is also expected to change in a feat to reduce carbon footprints.

Despite disruptions, brands that have shown successes in 2020 are those that have a head start in transforming their Asia operations, ensuring that efficiency and sustainability are at the heart of what they do.

Sourcing activities in Asia

Hong Kong is a long-established epicentre for Sourcing, Trading and Buying. However, with looming doubts over high operational costs, we observed that numerous sourcing functions based in Hong Kong have been relocated to China Mainland. Outlook reports for brands and retailers have also reported similar trends to Southeast Asia.

Shanghai has been steadily taking over more market share forming a ‘sourcing hub’ as companies prefer cost-effective locations for their sourcing teams. US retailers, unaffected by trade tensions, are in a better position to choose China Mainland as their main sourcing ground and can enjoy the benefit of shifting their teams closer to the supplier base. Several clients of ours are either planning or implementing this transition, thus creating a need for professionals in Hong Kong to evaluate their future options and where to locate.

Vietnam continues to be a top location for companies to move to for a few reasons:

1. Significant foreign investment in Vietnam’s manufacturing sector has significantly improved both the quality of products and capacity to service large orders

2. Cost competitive advantage due to trade tensions

3. Significant reduction in overhead cost with sourcing teams near manufacturing sites and utilising local talent

With these reasons, it is no surprise that On Running, an up and coming sports brand has chosen Vietnam as their Asia operations to benefit from these competitive advantages.

The e-commerce revolution

E-commerce platforms have seized opportunities during lockdowns and are undoubtedly the biggest winners in this retail disruption. Due to the high-volume of orders, Amazon is now looking to partner with mall operators to turn Sears and J.C. Penney stores into fulfillment centres to speed up the crucial last mile of delivery. This move reflects the intersection of two trends: the decline of brick-and-mortar and the boom of e-commerce.

Another high performing e-commerce business is the South Korean company Coupang. They have been aggressively investing in their very own Rocket Delivery network and is now able to provide same-day delivery of more than five million unique items. By having this competitive advantage in delivery times, Coupang has seen have been crowned the world’s fastest growing e-commerce business.

Digital transformation in Sourcing

Hong Kong-based, Trading and Logistics company Li & Fung made the headlines when JD.com invested US$100M a month after Li & Fung decided to privatise the business. The Fung family made a strategic decision to revaluate the business model and set course for long-term transformation.

This timely investment will accelerate the development of Li & Fung’s end-to-end digital supply chain through JD’s proprietary technologies. With this partnership and JD’s knowledge of the China Mainland market, they are hoping to offer new services that would help global retailers and brands navigate a highly uncertain and ever-changing landscape. This digitalisation will result in faster Product Development, more accurate forecasts, and reduced downtime.

Sustainability

Allbirds, a young shoe manufacturing company that designed its entire process around sustainability has pledged to produce the “lowest-carbon” shoe by exploring innovations across the entire supply chain – from material choices to manufacturing facilities and transportation methods that utilise renewable energy and fuels. They have also created a Carbon Fund to purchase offsets for each of that 10kg to incentivise innovating down to zero and bolster its eco-friendly credentials. Their determination and efforts paid off as this unique selling point has successfully increased Allbirds consumer loyalty and turned them into an industry disruptor.

Another great example is the work of VF, an American fashion distribution group. After closing the first green bond issue for US$500M, VF partner sustainable technology providers to install solar panels across their factories to drive fully sustainable supply. While VF is not the first company to link its financing with sustainability, many still have doubts on the possible business value such investments can create.

Movers & Shakers

In 2020, we have also seen some significant senior-level moves in the sector.

1. Xavier De Bellescize’s move to Kingfisher as General Manager – Sourcing Buying Director in June set the return of Jean-Daniel Gatignol as Managing Director of Global Sourcing to the Carrefour business

2. As ex-President of Walmart China, Wern Yuen-Tan moved back to Singapore, Walmart hired Christina Zhu, their first female President & CEO who will no doubt be looking to continue the success that the US retailer has had in continuing growth.

Looking into H2 2020

The focus for the Sourcing industry moving forward needs to be on fully integrating the supply chain and continuing to look at where technology can be used for analytical enhancement. This integration would demand future candidates to have experience in all areas – Sourcing, Demand and Supply Planning, Logistics, S&OP as well as a deep understanding in manufacturing.

Interviews will also shift away from needing examples of sourcing process and be focused more on the candidate’s ability to drive change management and be a true leader.

Digital transformation will continue to be at the forefront of innovation. Candidates who demonstrate the ability to grasp new technologies and implement them will be in a better position to secure jobs in the future.

Although this has been an unprecedented time in the history of Sourcing, we also walked away with numerous learnings that will truly define the careers we have in the future.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Desktop skeleton

Strong outlook for Aviation in APAC despite short-term challenges

Anonymous — Thu, 05 Mar 2020 16:01:21 +0000

Strong outlook for Aviation in APAC despite short-term challenges Anonymous (not verified)

As Aviation in APAC grapples with current events, the long-term outlook remains strong

The aviation industry has faced a challenging market in the last few quarters, from the grounding of the Boeing 737 MAX last year to the COVID-19 outbreak at the beginning of this year. These unpredictable events have significantly impacted the outlook for the industry in the short-term.

To explore the effects of these events on Aviation in Asia Pacific, Page Executive recently held discussion panels in our offices in Hong Kong and Singapore. Top leaders in the industry discussed the COVID-19 virus, the global supply chain and the hiring outlook for 2020 and beyond.

While more negative current events dominate most conversations, the overarching sentiment is that Aviation in Asia Pacific is resilient. These are some of the insights from our expert panel.

COVID-19 is affecting the industry – but it will bounce back

Both Singapore and Hong Kong have been on the frontline in dealing with the spread of the virus outside of China. Predictably, this has affected the aviation industry through travel restrictions, an overall decrease in passenger volume and bottlenecks in the supply chain. Though this is causing an immediate slowdown, most industry experts see this downturn as a V-shaped problem and expect long-term effects to be minimal in the context of the bigger picture.

John Timpany, Tax Partner, KPMG at the Hong Kong event said, “We've been seeing growth in the industry, demand for aircraft and all the auxiliary services that go with that. We have a bit of a shock at the moment, which is leading to some consolidation or people reconsidering their positions, but overall there’s a long-term growth with a bit of short-term volatility.”

In Singapore, Andrew Beer, Managing Director Aviation Finance for Standard Chartered Bank noted a positive forecast for the industry. “Initially, the 2020 forecast we are looking at a profitability for the industry as a whole of 29.3 billion, that’s on the back of an estimate of 25.9 billion for 2019.”

The importance of cash flow

The biggest impact of COVID-19 from a financial perspective has been on cash flow. James Bradley, Partner at K&L Gates explained that cashflow is paramount for companies. “Airlines are certainly looking at cash flow, debts and loans. From a lessor perspective, many airlines are asking for different terms within leases and amendments to repayment clauses. The bottom line is that those with issues with cash flow are struggling right now.”

A global, diverse supply chain is key

When tackling the subject of whether there will be a long-term impact on supply, especially from China, the panel in Singapore noted that dynamics within the supply chain are changing. However, not all changes are due to the virus.

Beer said, “Beyond COVID-19, the supply chain is being affected by changes in the geo-political situation, particularly between China and the US. To protect against possible effects from ongoing trade wards, companies should invest in multiple, diverse supply chains to protect their supply.”

Use a long-term lens when making decisions

Overall, our panels stressed that it is important to keep a long-term view when making business and forecasting decisions. For example, with the Boeing 737 MAX grounding, Beer noted, “Airlines and lessors struggle with orders because you have to predict demand 5 years from now. Companies should be careful when considering cancelling orders because there will be a rebound soon, and we all want the 737 MAX back in the sky.”

In Hong Kong, Dewey Yee, Lecturer MSC Aviation Finance and Leasing, Hong Kong Poly University noted: “I've been in this industry for 34 years and the industry has always experienced a lot of shocks in the market, whether it's SARS, the Gulf War, 911 and on. However, if you look at the chart, it’s a continuous upward trend, and the reason is high demand. I don’t see any long-term ill effects. I think it will come roaring back. A lot of people are very anxious to catch up and overtake last year, so I’m very very positive.”

Demand for hiring in APAC remains strong

Even with the difficulties in APAC, demand for hiring and the outlook for professionals within Aviation remains steady and strong.

Ben Wainwright, Associate Partner – Head of Aviation and Professional Services, Page Executive stressed the importance of people in the hard times “You need the best human capital to deal with challenging markets. The strategic importance of APAC has never been greater.”

Across the panel, it was agreed that hiring demands remain stable and companies in the industry are still very much seeking out top professionals. If anything, current events have highlighted the importance of experienced, versatile professionals in leadership roles within organisations.

Bradley explained further. “We are still hiring on the same level as before, but we need professionals with more diverse experience. While before the trend was to hire specialists who have done one thing for 15 years, now, the versatility of the market requires people who are able to perform at a variety of levels.”

Within aviation, aircraft leasing remains strong in terms of demand, as airlines move aircraft around to cover varying needs in response to the market. Especially in APAC, mid to end of life lessors have high demand for hiring and recruiting the right professionals.

At the senior level, particularly in Singapore, there is a high demand for high-quality candidates within leadership roles. Sales and Marketing, Technical, Risk, Banking and Legal will continue to produce the highest number of open roles.

For more insights on hiring within APAC in the aviation industry and for a copy of the full report, please contact Ben Wainwright at BenWainwright@pageexecutive.com

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Desktop skeleton

The Rise of Aircraft Leasing in Asia’s Aviation Industry

Anonymous — Fri, 01 Nov 2019 10:12:21 +0000

The Rise of Aircraft Leasing in Asia’s Aviation Industry Anonymous (not verified)

Even though passenger numbers are expected to double between now and 2037, it is not all good news in the world of aviation. Here is a brief introduction to the aircraft leasing industry, its growth potential in the near future, as well as the top employment and hiring trends for 2019.

The International Aviation Transport Association (IATA) predicts that, driven largely by rising fuel costs, the overall costs in the aviation industry will grow by 7.4% in 2019, thus outpacing a 6.5% rise in revenues. As such, airlines are increasingly looking for ways to manage their operation costs — and they have been doing a relatively good job so far. Part of the reason is through aircraft leasing, whereby airlines and aircraft operators rent aircraft on a contractual basis.

Aircraft leasing industry: an introduction

First, the basics. Most airlines are hesitant to purchase aircraft of their own — and for good reasons. A single Boeing 777-9, for example, can cost up to US$409 million. As such, it makes more economic sense for airlines to rent these aircraft instead. Not only does this increase the number of aircraft in the fleet, it does so without incurring crushing financial burden on the airline in the long run.

Over the years, many airlines have caught on and boarded the bandwagon. The increase in leasing deals, for example, has led to significant market growth in this relatively niche sector. In fact, within aviation, aircraft leasing is one of the most recognised markets across the globe.

Market Research Future (MRFR), for one, has the numbers to prove it. According to one of their recent reports, the global aircraft leasing market is set to reach US$62 billion by 2023, registering a 4.75% CAGR during the forecast period.

Commercial banks as aircraft lessors

Given the growth potential of the industry, commercial banks are getting in on the action as well. While they used to be the primary source for aircraft financing, commercial banks are now posing themselves as aircraft lessors. In this case, airlines typically purchase planes in bulk, sell them to banks, and then lease them back. While this might seem counterintuitive at first, this practise actually allows airlines to save on the depreciation cost, which in turn increases profit and saves the taxes.

The industry is growing

Interest in the industry has also increased across the Asia-Pacific region in the last decade. For example, since 2011, there has been a significant increase in demand from Asia Pacific-based airlines, particularly from China, India, Vietnam, Indonesia, as well as the Philippines. Since 2010, Asian banks, equity and debt capital markets, as well as asset-back securities market have also played a major role in aircraft leasing industry’s strategic importance.

As for the scale, there were about 800 airlines globally in 2018, and they would require over 45,000 new aircraft over the next 20 years. Secondly, in terms of investors and funding, there are over 350 aircraft lessors, over 200 active banks, as well as over 1,000 capital market investors.

The new king of the skies

Historically, Dublin and Singapore were considered global talent hub for the aircraft leasing industry. Singapore, in particular, was favoured by the top 20 lessors in the world due to the city-state’s friendly tax policies.

However, since Hong Kong’s tax reforms in 2017, the city has gradually become the destination of choice for many of the top 20 global lessors. In fact, many in the industry now view Hong Kong as the ‘Dublin of the East’, what with the significant reductions and changes in the operating lease taxes. So far, these efforts have bore fruit for China as well.

The centre of gravity has also shifted towards the Asia Pacific for the aircraft leasing industry. Many top lessors and OEM manufacturers now estimate that between 40–50% of their global revenue will be generated in this region for 2019 and 2020.

Hiring trends in the sector across Asia Pacific

With the stage now set, here is a selected list of hiring trends in the aircraft leasing industry:

25% of the top 20 global leasing company’s CEO and CCO are based in Asia Pacific, either Hong Kong, Singapore, or China with an increase in demand for senior-level talent and future board level succession planning in the region.
Many of the top 20 lessors are reporting that 50% or more of their global revenues are generated from the Asia Pacific region, which is fueling demand for senior-level appointments across Hong Kong and Singapore
With the challenging economic climate, the grounding of Boeing’s 737 Max aircraft, several airline bankruptcies globally, weaker airlines and lessors are struggling. Meanwhile, larger, well-capitalised players are looking to double down and take advantage of market opportunities.
Demand for Technical Roles in Hong Kong and Singapore is at an all-time high due the increased volume of re-deliveries, transitions and aircraft traded in Asia Pacific.
The top disciplines with the highest demand for professionals include Sales and Marketing (in the context of origination and trading), Technical, Risk, Legal, General Marketing, as well as Tax and Finance.

The future is exciting

The aviation industry in Hong Kong is currently full of opportunities and potential. The upcoming years look to be even more exciting as Hong Kong establishes itself as a hub for aviation and leasing.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Desktop skeleton

How Market Mapping can Help Make Informed Business and Hiring Decisions

Anonymous — Thu, 28 Mar 2019 16:25:33 +0000

How Market Mapping can Help Make Informed Business and Hiring Decisions Anonymous (not verified)

As the competition for talent gets even tighter, companies are increasingly partnering with talent recruitment companies like Page Executive to fulfil their hiring needs. Finding the right leaders for an organisation can be a challenge, from seeking out the right skillset to evaluating experience and cultural fit. Market mapping is an option that can help obtain information about key competitors and the hiring landscape, and provide compensation and benchmarking analyses. Here’s a look at how market mapping is helping identify solutions for many businesses.

External insights provide answers

Over the past year, companies have realised the untapped value in ‘finding good people’. Even with the rise in robotics, automation, and the workplace of the future, humans and their potential, are essential to the success of any organisation. This is even truer when you begin to reach leadership levels. In order to attract that top talent, offers must go far beyond monetary benefits. In addition to market rates, companies must offer the right compensation packages and other cultural and non-monetary benefits.

Market Mapping is a great way to obtain information about what the standards are within the market, and what competitors are offering. This solution offers insights into which channels competitors hire from, how they are attracting talent as well as how they are structuring their remuneration packages.

For example, to help our client in the manufacturing sector design a competitive remuneration package to attract top talent, Page Executive puts together a remuneration benchmark within manufacturing of small to medium enterprises (SMEs) in Singapore to understand the executive director compensation package across 15 manufacturing SMEs, with 5 SMEs selected for an in-depth study.

Another aspect that market mapping covers is benefits benchmarking, which helps organisations better understand how their benefits package is performing and how it compares to those of their competitors. This can include benchmarking against working hours, healthcare benefits, education benefits and wellness benefits, all of which have been shown to improve retention rates. When executed correctly, benchmarking not only equips employers with the information they need to strategically reduce costs, improve operations but also to make plan adjustments when necessary.

One of the ways in which Page Executive has implemented this for our client in the medical devices sector was to put together a benefits benchmarking report of compensation packages offered by 9 medical device companies in South East Asia. This report not only helped our client to understand how an attractive benefits package looks like, but helped them identify which benefits would make up these packages.

Market mapping has started growing in popularity amongst many companies in South East Asia, and can be applied to any organisation regardless of sector and size, as evidenced by our five local SME clients whom we partnered with over the past two months.

The market mapping approach

Traditionally, market mapping takes a quantitative approach where research firms collect data, analyse the data and present them to clients. At Page Executive, we combine data with real-life insights and context by combining our wealth of real life recruitment examples from our 40 years of experience in the business and from our recruiters across 140 offices in 26 countries. This approach allows companies to predict the market behaviour while making better business decisions.

The primary source of our information comes from our extensive network of clients and partners, and this is further validated through pool of candidates, ensuring you receive a comprehensive overview of your competitor’s organisation and human resources team.

Each market mapping project normally ranges between 4- 8 weeks, where we’ll work in collaboration to determine specific elements or pain-points that an organisation would like to focus on. Besides conducting in-depth research, analysis to review all insights gathered, the final report offers insights covering all findings gathered.

Understanding the value and benefits of market mapping

Companies who are looking to make research-backed business decisions and strengthen company culture can utilise market mapping to their benefit. Market mapping also gives an impartial and accurate idea of pay, welfare and benefits information helping you make informed and effective remuneration decisions, while at the same time accounting for variations that need to be considered.

Beyond that, this solution can help lay the groundwork for bigger and more strategic business decisions like business expansion, entry into new territories and mitigation of potential risks.

When to implement the solution

Market mapping is best implemented when an organisation is planning ahead. Future-thinking organisations use this solution when overseas expansion, organic growth (e.g. IPO) or inorganic growth (e.g. M&A) is on the cards. This is a good stepping stone for them to be well-placed within the market and stay ahead of the curve. Market mapping is both employee and industry agnostic. Organisations have used this solution to fill gaps, helping them place junior staff all the way to senior executive roles.

If you would like to discuss this topic further, or find out how we can help source executive talent for your business, get in touch for a confidential conversation.

---

Jon Goldstein

Senior Partner, Regional Director SEA, Page Executive
T: +65 6643 9715
E: jongoldstein@pageexecutive.com

Since January 2017, Jon is based in Singapore with responsibility for the Page Executive (senior executive level) business line.

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Desktop skeleton

The Chief Digital Officer: Enabling Online Business Transformation

Anonymous — Mon, 21 Mar 2016 15:03:06 +0000

The Chief Digital Officer: Enabling Online Business Transformation Anonymous (not verified)

The critical importance of digital strategy has secured enviable positions for Chief Digital Officers and Digital Strategy Directors within senior leadership teams.

While there are diverse definitions for the role of CDO(Chief Digital Officer), all converge on promoting the digital transformation of organisations. All companies undergo this transformation and business models are being reshaped to incorporate new technologies. The digital function should therefore be very close to the company’s leadership, preferably as a member of the leadership team.

Where does the CDO sit within the corporate structure?

Successful businesses have understood that it’s essential to give their CDO and Directors of Digital Strategy a seat at the executive table, due to the importance of the

revenue streams relying on them, as well as their ability to drive major transformation within the organisation. As their contribution will often help to define the company’s future direction, their role has to align closely with the interests of the CEO, CFO, COO and other key members of the leadership team.

Why do organisations need a CDO?

A decade ago, many organisations were faced with the challenge of finding the right mix between their traditional business model and their digital strategy. Over time, we have seen that those companies best able to integrate both strands have survived and thrived. In most cases, initiatives taking a business too far from its core competencies resulted in failure. Today, digital has developed into much more than just a successful integration of offline and online business models. Core concepts such as Big Data, analytics and user privacy have made the Chief Digital Officer a vital member of the leadership team: one with a clear mandate for driving change to enable online business transformation. The successful CDO acts as a change architect by unifying the future vision of the company with its current organisation, culture and needs.

What does a successful CDO look like?

It should be no surprise that a CDO usually has experience in the world of digital marketing, technology, e-commerce and strategy. To be successful, they must have the ability to create effective strategies for a wide range of digital platforms that align with the company’s overall strategy. Previous experience at industry-leading digital organisations such as Google, Facebook, Amazon or Yahoo doesn’t guarantee success, but it certainly improves the odds.

However, to succeed, it is also desirable for a CDO to have gained experience in conventional businesses: understanding what happens in functional areas such as marketing and sales, and bringing operational business management experience that has also involved P&L responsibilities.

On the soft side, CDO positions require an enormous capacity to adapt to change, to work in teams in both complex and unstructured environments, to be passionate about technology and innovation, and to have an intrinsic focus on customer satisfaction.

Technology is ever-evolving, so it is crucial that the CDO is attuned to the way in which different segments in society utilise and adapt to technological innovations. It is imperative that he or she not only understands this behaviour, but is also able to anticipate it.

What is the key consideration in hiring a CDO?

This very senior positioning, along with their visibility and impact within the organisation, reinforces the need to select and recruit candidates who can exceed the scope of their previous and present successes. Thus, assessing potential on top of current performance is crucial to the successful recruitment of Digital Strategists and CDOs.

Key takeaways

A successful CDO unites expertise in online practice and strategy with conventional business experience
Integrating the traditional business model and the digital strategy is key to commercial survival
Successful companies now give a seat to the CDO at the executive table, due to their ability to drive major transformation within the organisation
Assessing potential on top of performance to date is crucial when making senior appointments in the digital sphere
The CDO can apply the power of Big Data and analytics to re-engineer core business

Looking to hire your next leader?

Get in touch with one of our consultants now to discuss your leadership talent requirements.

Find a consultant

Looking for your next leadership challenge?

Explore our open opportunities right now.

Search jobs

Looking to build a Sustainability function in your organisation? Download our free eBook now.

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Desktop skeleton

APAC

China’s Healthcare and Life Sciences sector going global: Securing the right Executive Leader for expansion strategy

Page Executive Healthcare Life Sciences: supporting our clients’ overseas expansion – recent case study

In-demand skills for executives leading the ‘In China for Global Expansion’ initiative

How to attract executive talent to support overseas expansion

Looking to hire your next executive?

How partnerships between contract pharma and pharmaceutical companies evolve with the global vaccine industry

Looking to hire your next executive?

Conversations with Executives: Embracing risk and change

The Healthcare & Life Sciences sector in China is booming

A candidate-driven biotech market

According to PageGroup's Talent Healthcare Survey 2020, which was conducted amongsenior leaders with over 15 years of industry experience, over 80% of our respondentsconsidered joining a domestic company in the healthcare field.

Return to the home country

Change is coming

Looking to hire your next leader?

Looking for your next leadership challenge?

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Conversations with Executives: Stepping outside of your comfort zone

Conversations with Executives: Identifying opportunities in difficult times

Back to the future: The Asian CFO in the New Normal

Executive Trendsin Finance

STEERING THE SHIP

GEARING UP FOR GROWTH

FROM ACCEPTANCE TO ACCELERATION

FROM PROFITS TO PROGRESS

Looking to hire your next leader?

Looking for your next leadership challenge?

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

The Future of Retail Sourcing in Asia

Looking to hire your next leader?

Looking for your next leadership challenge?

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

Strong outlook for Aviation in APAC despite short-term challenges

As Aviation in APAC grapples with current events, the long-term outlook remains strong

COVID-19 is affecting the industry – but it will bounce back

The importance of cash flow

A global, diverse supply chain is key

Use a long-term lens when making decisions

Demand for hiring in APAC remains strong

Looking to hire your next leader?

Looking for your next leadership challenge?

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

The Rise of Aircraft Leasing in Asia’s Aviation Industry

Aircraft leasing industry: an introduction

Commercial banks as aircraft lessors

The industry is growing

The new king of the skies

Hiring trends in the sector across Asia Pacific

The future is exciting

Looking to hire your next leader?

Looking for your next leadership challenge?

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

How Market Mapping can Help Make Informed Business and Hiring Decisions

External insights provide answers

The market mapping approach

Understanding the value and benefits of market mapping

When to implement the solution

Looking to hire your next leader?

Looking for your next leadership challenge?

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

The Chief Digital Officer: Enabling Online Business Transformation

Where does the CDO sit within the corporate structure?

Why do organisations need a CDO?

What does a successful CDO look like?

What is the key consideration in hiring a CDO?

Key takeaways

Looking to hire your next leader?

Looking for your next leadership challenge?

Are you looking to hire? Request a call back from our team of experts now.

Thank you for submitting the form

According to PageGroup's Talent Healthcare Survey 2020, which was conducted among
senior leaders with over 15 years of industry experience, over 80% of our respondents
considered joining a domestic company in the healthcare field.

Executive Trends
in Finance