The role of chief transformation officer (CTO) is often linked with cost-cutting. In this episode, we discuss how this is a misleadingly narrow view and explain why and how CTOs should correct that misconception and redefine the role. Our guests are Kevin Carmody, a senior partner in our Chicago office, AD Bhatia, a partner in our New Jersey office, and Emily Rizzi, an associate partner based in our Pittsburgh office. 

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Meet the newest member of the consumer C-suite: The chief transformation officer
How companies can transform with workers’ insights


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The role of chief transformation officer (CTO) is often linked with cost-cutting. In this episode, we discuss how this is a misleadingly narrow view and explain why and how CTOs should correct that misconception and redefine the role. Our guests are <a href="https://www.mckinsey.com/our-people/kevin-carmody">Kevin Carmody</a>, a senior partner in our Chicago office, <a href="https://www.mckinsey.com/~/media/mckinsey/email/rethink/2023/08/2023-08-02c.html">AD Bhatia</a>, a partner in our New Jersey office, and Emily Rizzi, an associate partner based in our Pittsburgh office. 
Related insights
<ul>
<li><a href="https://www.mckinsey.com/capabilities/transformation/our-insights/meet-the-newest-member-of-the-consumer-csuite-the-chief-transformation-officer?cid=other-eml-mtg-mip-mck&amp;hlkid=7cc34f0f1b7d40c0a595b7e44b1e0d78&amp;hctky=1926&amp;hdpid=6343684f-ef15-4a20-b4db-7807ba7d90ef">Meet the newest member of the consumer C-suite: The chief transformation officer</a></li>
<li><a href="https://www.mckinsey.com/~/media/mckinsey/email/rethink/2023/08/2023-08-02c.html">How companies can transform with workers’ insights</a> 
Join our <a href="https://www.linkedin.com/showcase/mckinsey-strategy-&amp;-corporate-finance/?viewAsMember=true">LinkedIn community</a> of more than 90,000 members and follow us on X at <a href="https://twitter.com/McKStrategy">@McKStrategy</a>. 
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The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few. &nbsp;But it takes bold people and courageous approaches to seize those opportunities and create value.
In each episode of our weekly podcast, we interview the world&rsquo;s highest-performing CEOs, CFOs, innovators, and McKinsey experts and discuss how they build the courage, clarity, conviction, and cohesion that allow their businesses to win by moving faster than the world around them.&nbsp;

176. Redefining the chief transformation officer's role

Arvind Krishna, the Chairman, President, and Chief Executive Officer of IBM, stepped into the CEO role at IBM in 2020, following 30 years at the company. Prior to that, he held various senior positions, spanning VP of Cloud and Cognitive Software to Head of Research, where he drove innovation in core technologies – including artificial intelligence, quantum computing, and cloud platform services. In today’s episode, Arvind joins our North America Chair and senior partner Eric Kutcher to discuss how he led IBM to triple its share price in just five years, the current AI landscape, how to pursue opportunities from volatility, the potential of quantum computing, what it takes to drive growth through innovation, and the dangers of being too risk-averse.

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Arvind Krishna, the Chairman, President, and Chief Executive Officer of IBM, stepped into the CEO role at IBM in 2020, following 30 years at the company. Prior to that, he held various senior positions, spanning VP of Cloud and Cognitive Software to Head of Research, where he drove innovation in core technologies &ndash; including artificial intelligence, quantum computing, and cloud platform services. In today&rsquo;s episode, Arvind joins our North America Chair and senior partner Eric Kutcher to discuss how he led IBM to triple its share price in just five years, the current AI landscape, how to pursue opportunities from volatility, the potential of quantum computing, what it takes to drive growth through innovation, and the dangers of being too risk-averse.
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<a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-excellence">CEO Excellence: The Six Mindsets That Distinguish the Best Leaders from the Rest&nbsp;</a>
<a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-for-all-seasons">A CEO for All Seasons: Mastering the cycles of leadership</a>
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287. IBM Chairman, President, and CEO Arvind Krishna on setting bold ambition and driving growth through innovation 

Health insurers are facing urgent challenges related to affordability, access, and how to safely and effectively leverage AI and emerging technologies. In this episode, McKinsey senior partner Celia Huber is joined by Brian Evanko, president and chief operating officer of The Cigna Group. In this role, Brian oversees all of the company's business units, including its two growth platforms: Cigna Healthcare, a health benefits business, and Evernorth, a health services business. Together, these business units serve customers in more than 30 countries.

From here, Brian has a unique view of the challenges facing the industry and the people it serves—including the fact that the vast amount of US healthcare spending goes toward chronic care. In their conversation, Brian shares his perspective on the innovation needed, such as through the adoption of AI, to improve affordability and support prevention.

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Health insurers are facing urgent challenges related to affordability, access, and how to safely and effectively leverage AI and emerging technologies. In this episode, McKinsey senior partner <a href="https://www.mckinsey.com/our-people/celia-huber">Celia Huber</a> is joined by <a href="https://www.linkedin.com/in/brian-c-evanko-463b5ab">Brian Evanko</a>, president and chief operating officer of <a href="https://www.thecignagroup.com/">The Cigna Group</a>. In this role, Brian oversees all of the company's business units, including its two growth platforms: Cigna Healthcare, a health benefits business, and Evernorth, a health services business. Together, these business units serve customers in more than 30 countries.
From here, Brian has a unique view of the challenges facing the industry and the people it serves&mdash;including the fact that the vast amount of US healthcare spending goes toward chronic care. In their conversation, Brian shares his perspective on the innovation needed, such as through the adoption of AI, to improve affordability and support prevention.
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286. The Cigna Group’s Brian Evanko on improving affordability and prevention in healthcare

CFOs are increasingly helping lead transformations of their companies, which has a range of implications for how they manage their time and stay up to date with technology. Leading transformation has often been viewed as more focused on other members of the C-suite. McKinsey’s research shows the critical role that CFOs have in the success of a transformation. In this episode, we speak with three McKinsey experts on the subject.

Kevin Carmody is a senior partner and the global co-leader of our CFO and Finance Excellence Practice based in Chicago. Previously, Kevin was a founding member of our Transformation Practice and a member of its global operating committee. Christian Grube is a partner in our Munich office, and leads our CFO and Finance Excellence Practice across Europe. Matt Maloney is a partner in our New York office, and leads our CFO and Finance Excellence Practice in the Americas.

CFOs are increasingly helping lead transformations of their companies, which has a range of implications for how they manage their time and stay up to date with technology. Leading transformation has often been viewed as more focused on other members of the C-suite. McKinsey&rsquo;s research shows the critical role that CFOs have in the success of a transformation. In this episode, we speak with three McKinsey experts on the subject.
<a href="https://www.mckinsey.com/our-people/kevin-carmody">Kevin Carmody</a> is a senior partner and the global co-leader of our CFO and Finance Excellence Practice based in Chicago. Previously, Kevin was a founding member of our Transformation Practice and a member of its global operating committee. <a href="https://www.mckinsey.com/our-people/christian-grube">Christian Grube</a> is a partner in our Munich office, and leads our CFO and Finance Excellence Practice across Europe. <a href="https://www.mckinsey.com/our-people/matthew-maloney">Matt Maloney</a> is a partner in our New York office, and leads our CFO and Finance Excellence Practice in the Americas.

176. Redefining the chief transformation officer's role

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