Chief Technology Officer

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Description of Chief Technology Officer. Explanation.

 

Chief Technology Officer

Definition Chief Technology Officer. Description.


A Chief Technology Officer (CTO) is the most senior company executive responsible for technological and scientific development projects within a company.


The Chief Technology Officer or Chief Technological Officer is a first level executive focused on developing new technologies within a company. The CTO envisions the technology of a company and anticipates technological changes as an answer to changes in customer needs. Most companies using this position can be found in the IT industry. Could also be called (Senior) Vice-President of Technology in certain companies.


It is a relatively new management position and there is not a clear definition nor a precise description of its corresponding duties. A CTO is commonly in charge of the Research and Development team of a company and sometimes coordinates a group of technicians that work on a company technological development.


Roles and Responsibilities of Chief Technology Officers

  • Monitoring and Assessing New Technologies
  • Technology Vision
  • Strategic Innovation
  • Technology and Business Growth
  • Internal Coordination
  • External Partnerships

The role of a CTO is different from that of a Chief Information Officer, since where a CIO is sometimes considered an internal facing job, a CTO is concerned with technology needed for products and technology sold to customers. In some cases the technology itself is a product.


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Compare with: Chief Executive Officer  |  Chief Financial Officer  |  Chief Procurement Officer  |  Chief Operating Officer  |  Chairman of the Board  |  Corporate Governance

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