581: In this interview, Michael Wondrasch, EVP & CIO of Avantor, provides an overview of Avantor’s business and the digital and technological aspects behind its mission of accelerating the speed of science. Mike explains how he sees the barriers between suppliers and customers are fading, why the technology implications that arose during the pandemic are likely to stay, how Avantor implemented and navigated a hybrid work environment during the pandemic, and how the merger with VWR helped consolidate its e-commerce platforms and focus on being more customer-centric. He also describes how the differences between the CTO and CIO titles tend to be company-specific and some of the trends in technology he is looking forward to.
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580: In this interview, R “Ray” Wang, founder and chairman of Constellation Research, shares insights from his book on data-driven digital networks (DDDNs) and why he believes digital transformation alone is not enough for companies to survive. He explains how digita0l transformations need to extend beyond integrating new digital channels and include transformations in the business model, the monetization model, the technology, and the culture. We discuss the shifting ways investors are looking at their fundamentals in companies and how businesses must develop unusual ecosystems and joint ventures in order to compete with these emerging digital giants. When it comes to data, Ray believes third-party data collection isn’t sufficient and what is really driving the future is first-party data. He describes the five key elements of building a DDDN, how it is causing industries and the respective total addressable markets to drastically change, and how government regulation should be analyzed through a cost-benefit analysis of its effect on customer value. Finally, Ray provides a framework for how older companies can compete with DDDNs.
579: In this interview, Michael Taylor, Chief Technology Officer of World Wide Technology, focuses on how the company sees the future of digital and technology. He explains how he views the dot com bubble as the advent of the impact that technology could have on business and why a culture that encourages furthering innovation is crucial during a time of uncertainty. Michael talks about the strategic role he plays as CTO and how his focus is as he describes moving from “the art of the possible to the art of the probable.” He provides a few key themes of WWT’s Technology Strategy connecting technology to business outcomes, digital to physical worlds, and strategy to delivery. Additionally, Michael stresses the importance of engaging with employees during difficult and uncertain times as well as how the expansion of remote work and introduction of hybrid working models lead to more flexibility and invite the opportunity to attract a more diverse talent pool. Finally, he describes how he divides his time among his team, his customers, and his ecosystem to see from different lenses how organizations are thinking about disruption and taking advantage of emerging trends in technology.
578: In this interview, James Sills provides an overview of M&F Bank, how the pandemic has affected the digital customer experience and digitization of banking, and how M&F Bank has managed the differences in digital adoption across consumer age demographics. Additionally, he gives his perspective on that state of racial injustice and social inequity in America, the importance of engaging with minority populations within and outside the company, and how businesses can leverage partnerships with minority-owned businesses and minority-focused organizations to support the push for social justice. Finally, James discusses his career evolution including his experiences as CIO of the state of Delaware and how his current position is taking advantage of ecosystems to foster innovation and keep pace with some of the tech trends he and his team are excited about.
577: In this interview, Janet Sherlock, Chief Information Officer of Ralph Lauren, explains her purview as CIO and how the company’s Flexible Work Arrangement and virtual stores put the company in a stronger position going into the COVID-19 Pandemic. Janet debriefs some of the learnings and silver linings from the pandemic, specifically on how it accelerated a streamlining of processes; why those changes won’t go away any time soon; and how ingenuity, innovation, architecture, and agility are key to Ralph Lauren’s continued success. She emphasizes Ralph Lauren’s strategic focus on experience, data, and automation. Finally, we discuss lessons on recruiting for board-level positions, balancing her doctoral candidacy with career and family, and trends that she is looking forward to.
576: In this interview, Dave gives his perspective on the similarities and differences between the CIO and CDO roles and the way they relate to driving business transformations. In this combined role, he explains the importance of cultivating great relationships with business partners, prioritizing high-value drivers, and learning to be agile in adapting to the rapidly changing technology landscape. Within Merck, Dave speaks to the insights arising from the company’s transition from a project-focused to product-focused model, the advantages from its investment in cloud technology, and the use of data analytics and AI/ML to make decisions and assess risks. Finally, we discuss the risk of companies losing focus and falling into “tech for tech’s sake”, learnings from the pandemic, and industry trends towards quantum computing.
575: In this interview, Scott discusses Wyndham’s investments in the cloud and various platforms, how the company leverages them to meet the needs of various constituent groups, and how the insights his team draws from them help drive the broader business strategy. Scott also explains the technology implications behind Wyndham’s spin-off, the acquisition of La Quinta, the pandemic, and how the company managed and changed at such a rapid pace throughout these major points in his career. Finally, we discuss what the future looks like for the hospitality industry and some of the trends he sees coming out of the pandemic.
574: In this interview, Rashmi Kumar, CIO of HPE, offers her perspective on the HPE’s digital transformation, the benefits of moving HPE’s headquarters to Texas, and the company’s focus on what she calls “digitalization to the core.” She talks about how HPE acting as customer zero for many of its offerings allows for a better understanding of technology’s limitations and leads to honest communication with HPE’s customers. Additionally, we discuss how HPE assessed its ability to transition 60,000 employees and 20,000 contractors to work remotely and why focusing on company culture was critical for the transformation. Finally, Rashmi offers advice on recruiting for a board-level position, ways for companies to sponsor and foster diverse organizations, and a look into some of the trends in IT that HPE is focused on.
573: In this interview, Ken Spangler, EVP of IT & CIO of OpCo Technologies at FedEx, focuses on the culture of innovation at FedEx. Ken describes how his experiences serving as CIO for each of FedEx’s businesses has given him a unique perspective on the firm’s principles to compete collectively, operate independently, and manage collaboratively. He talks about how the company fosters innovation and focuses on what he calls “Constructive Dissatisfaction” in the company. Further, Ken speaks to the culture of FedEx, what it means to still be a founder-led company, and FedEx’s People-Service-Profit model. Additionally, Ken gives his perspective on how FedEx went through four phases of learning due to the pandemic, what the return to work looks like, and a variety of other topics.
572: In this interview, Barbara Lavernos, Deputy Chief Executive Officer in charge of Research, Innovation, and Technology at L’Oréal, discusses the intersection of technology and cosmetics and the evolution of what Barbara calls “Beauty Tech.” We cover how L’Oréal aims to develop personalized and innovative beauty products, services, and devices at scale through the use of artificial intelligence, data, and virtual reality. Barbara shares how the pandemic was a catalyst for digital transformation, e-commerce, and virtual customer experiences, and why business leaders are becoming more tech- and data-savvy. Finally, we discuss the importance of diversity and inclusion in leadership positions.
