For centuries, the business world has been led and managed by Sales and Finance experts. Most of the CEOs would essentially work in either Sales or Finance all their life before taking the leadership position.Normally, people are constrained (they are also accountable for this) to remain in one silo (be it ops / tech / sales / finance).
As these leaders move into CEO position, their understanding of different units remain low and this impacts the overall growth of the organisation. Though, I am a business person, I spent 2 decades in Digital / Tech / Product, without direct exposure to Sales & Marketing. As I started my journey as an entrepreneur, I have started learning the practical sales and marketing side. I now know what I missed in past couple of decades.
Fintechs are killing the silos of Sales / Finance / Credit / Ops and there is an urgent need to groom potential CEOs in Banks who have deep knowledge across areas. I believe there is need to expose potential CEOs to technology / credit / compliance (beyond sales & finance), so that they can handle the challenges of Fintechs / GAFA ahead.
Will potential CEOs accept the challenge of working on digital transformation initiative?