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. 

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


Join our LinkedIn community of more than 90,000 members and follow us on X at @McKStrategy. 

Explore our collection of Inside the Strategy Room episode transcripts on McKinsey.com

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>. 
Explore our collection of Inside the Strategy Room <a href="https://www.mckinsey.com/itsr">episode transcripts on McKinsey.com</a> 
</li>
</ul>

We talk with McKinsey partners and corporate executives on the challenges they face creating lasting strategies in a fast-changing world. We also examine the different ways these executives approach these challenges and the new and innovative ways they think of creating a vision for their enterprises.

What does it take to survive in a world of constant change? More than ever, enterprises need to create strategies that can meet current needs but also adapt to future demand. A regular series of interviews with McKinsey partners and corporate executives.

Inside the Strategy Room

The world is moving faster, and as upheaval becomes the norm, vast business opportunities will be within the grasp of the extraordinary few.  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’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. 

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

In times of economic volatility, the temptation to focus on short-term profitability can become a trap that stalls longer-term projects designed to spur growth. Yet as our long-standing research shows, companies that take a through-cycle approach to investing in growth and innovation consistently outperform their peers. In this episode, three innovation strategy and value creation experts share their latest research and tips for achieving resilient growth.

Matt Banholzer is a senior partner in McKinsey’s Chicago office and co-leader of our Global Strategic Growth and Innovation Practice. Tim Koller is a partner in our Denver office and co-author of the best-selling book, Valuation: Measuring and Managing the Value of Companies, now in its eighth edition. And Laura LaBerge is a senior expert in our Strategic Growth and Innovation Practice and is based in our Connecticut office.

 

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Investing in innovation: Three ways to do more with less 

Innovation in a crisis: Why it is more critical than ever 

Revolutionary innovations propelling growth 

A bigger, bolder vision: How CROs are propelling growth from the C-suite 

How top performers use innovation to grow within and beyond the core 

How innovation can accelerate industry momentum 

The eight essentials of innovation 

In times of economic volatility, the temptation to focus on short-term profitability can become a trap that stalls longer-term projects designed to spur growth. Yet as our long-standing research shows, companies that take a through-cycle approach to investing in growth and innovation consistently outperform their peers. In this episode, three innovation strategy and value creation experts share their latest research and tips for achieving resilient growth.
<a href="https://www.mckinsey.com/our-people/matt-banholzer">Matt Banholzer</a> is a senior partner in McKinsey&rsquo;s Chicago office and co-leader of our Global Strategic Growth and Innovation Practice. <a href="https://www.mckinsey.com/our-people/tim-koller">Tim Koller</a> is a partner in our Denver office and co-author of the best-selling book, <a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/valuation-measuring-and-managing-the-value-of-companies">Valuation: Measuring and Managing the Value of Companies</a>, now in its eighth edition. And <a href="https://www.linkedin.com/in/laura-laberge-054b35/">Laura LaBerge</a> is a senior expert in our Strategic Growth and Innovation Practice and is based in our Connecticut office.
&nbsp;
Related insights&nbsp;
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/investing-in-innovation-three-ways-to-do-more-with-less">Investing in innovation: Three ways to do more with less</a>&nbsp;
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/innovation-in-a-crisis-why-it-is-more-critical-than-ever">Innovation in a crisis: Why it is more critical than ever</a>&nbsp;
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/revolutionary-innovations-propelling-growth">Revolutionary innovations propelling growth</a>&nbsp;
<a href="https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/a-bigger-bolder-vision-how-cros-are-propelling-growth-from-the-c-suite">A bigger, bolder vision: How CROs are propelling growth from the C-suite</a>&nbsp;
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/how-top-performers-use-innovation-to-grow-within-and-beyond-the-core">How top performers use innovation to grow within and beyond the core</a>&nbsp;
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/how-innovation-can-accelerate-industry-momentum">How innovation can accelerate industry momentum</a>&nbsp;
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights/the-eight-essentials-of-innovation">The eight essentials of innovation</a>&nbsp;

Investing in innovation: A pathway to resilient growth 

A small improvement in pricing can often drive greater value creation than larger cost or volume improvements. However, private equity (PE) funds face unique challenges in identifying and addressing pricing opportunities across diverse portfolio companies, often lacking the dedicated tools and expertise to do so effectively. In this episode, Brian Elliott, Jordan Jakubovitz, and Michelle Nguyen discuss how PE funds can address these challenges and achieve efficient growth.

Brian Elliott is a senior partner in our New Jersey office and co-leads our pricing practice across all sectors. Brandon Heriford is a partner in our Atlanta office, and co-leads our Periscope B2B pricing solution with Brian. Michelle Nguyen is an associate partner in our New York office, and is a leader in our Private Capital Practice, and Dhruv Sriram is a consultant in our Atlanta office and a core member of our software and tech practice.

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Global Private Markets Report 2025: Braced for shifting weather

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Pricing: The next frontier of value creation in private equity

Is your pricing strategy cutting it?

McKinsey Insights on Strategy & Corporate Finance

McKinsey Strategy & Corporate Finance on LinkedIn

McKinsey Insights on Private Capital

 

A small improvement in pricing can often drive greater value creation than larger cost or volume improvements. However, private equity (PE) funds face unique challenges in identifying and addressing pricing opportunities across diverse portfolio companies, often lacking the dedicated tools and expertise to do so effectively. In this episode, Brian Elliott, Jordan Jakubovitz, and Michelle Nguyen discuss how PE funds can address these challenges and achieve efficient growth.
<a href="https://www.mckinsey.com/our-people/brian-elliott">Brian Elliott</a> is a senior partner in our New Jersey office and co-leads our pricing practice across all sectors. <a href="https://www.linkedin.com/in/brandon-heriford-5068b431/">Brandon Heriford</a> is a partner in our Atlanta office, and co-leads our Periscope B2B pricing solution with Brian. <a href="https://www.mckinsey.com/our-people/michelle-nguyen">Michelle Nguyen</a> is an associate partner in our New York office, and is a leader in our Private Capital Practice, and <a href="https://www.linkedin.com/in/dhruv-sriram/">Dhruv Sriram</a> is a consultant in our Atlanta office and a core member of our software and tech practice.
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<a href="https://www.mckinsey.com/industries/private-capital/our-insights/global-private-markets-report">Global Private Markets Report 2025: Braced for shifting weather</a>
<a href="https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/how-to-navigate-pricing-during-disinflationary-times">How to navigate pricing during disinflationary times</a>
<a href="https://www.mckinsey.com/capabilities/growth-marketing-and-sales/our-insights/pricing-the-next-frontier-of-value-creation-in-private-equity">Pricing: The next frontier of value creation in private equity</a>
<a href="https://www.mckinsey.com/featured-insights/themes/is-your-pricing-strategy-cutting-it">Is your pricing strategy cutting it?</a>
<a href="https://www.mckinsey.com/capabilities/strategy-and-corporate-finance/our-insights">McKinsey Insights on Strategy &amp; Corporate Finance</a>
<a href="https://www.linkedin.com/showcase/mckinsey-strategy-corporate-finance/posts/?feedView=all">McKinsey Strategy &amp; Corporate Finance on LinkedIn</a>
<a href="https://www.mckinsey.com/industries/private-capital/our-insights">McKinsey Insights on Private Capital</a>
&nbsp;

281. Pricing to create value across the private equity portfolio

Chris Nassetta has served as President and CEO of Hilton since 2007, leading the organization through some extraordinary challenges. Chris’s focus on a sustainable growth model and a brand-led, network-driven strategy has enabled Hilton to cultivate 25 brands and serve more than 250 million travelers annually. In today’s episode, Chris discusses this journey with Eric Kutcher, our North America Chair and Senior Partner, and shares what he’s learned about leadership along the way. Looking ahead, he explains why AI is the greatest gift for Hilton to deliver what customers want, whenever and wherever they want it.

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CEO For All Seasons: Mastering the Cycles of Leadership

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Chris Nassetta has served as President and CEO of Hilton since 2007, leading the organization through some extraordinary challenges. Chris&rsquo;s focus on a sustainable growth model and a brand-led, network-driven strategy has enabled Hilton to cultivate 25 brands and serve more than 250 million travelers annually. In today&rsquo;s episode, Chris discusses this journey with Eric Kutcher, our North America Chair and Senior Partner, and shares what he&rsquo;s learned about leadership along the way. Looking ahead, he explains why AI is the greatest gift for Hilton to deliver what customers want, whenever and wherever they want it.
Related Insights
<a href="https://www.mckinsey.com/featured-insights/mckinsey-on-books/ceo-for-all-seasons">CEO For All Seasons: Mastering the Cycles of Leadership</a>
<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</a>
<a href="https://www.linkedin.com/newsletters/the-strategic-ceo-7236955032997216256/">The Strategic CEO newsletter</a>

176. Redefining the chief transformation officer's role

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