IT companies go startups way, appoint chief growth officers

IT companies are emulating startups and web commerce firms to create a relatively new C-suite executive category – chief growth officer (CGO) – to boost growth visibility in a tough global macroeconomy where clients are becoming increasingly cagey on spending money on projects that don’t yield immediate returns.

Top tier companies including HCLTech, Tech Mahindra, LTIMindtree and Wipro have appointed such officers recently. Mid tier and smaller companies like Persistent Systems, Xoriant, Innover among others have also made such an addition recently.