Vice President of Product Management
We are excited to partner with a long-term Minnesota-based client to identify their next VP of Global Product Management! Our client is publicly held and has an incredible track record of growth and product innovation over its 100 years in business. Despite its stable history, this role is a BUILD role as there is an ongoing need to deepen customer understanding and increase the pipeline of initiatives to drive market share growth and product adoption rates.
Reporting to the Chief Marketing Officer, the VP of Global Marketing will lead a team of 40 in Marketing & Product to deliver year-over-year revenue growth driven by its diverse product portfolio. The company is shifting strategically toward becoming a product-led organization, emphasizing growth objectives and transformative product management practices.
*** This position is located in Minneapolis, MN. Our client maintains an in-person work environment, so this person would need to reside in MN ***
*** This position offers a robust base salary, bonus, and long-term incentive plan, along with a competitive benefits offering. ***
Responsibilities
- Primary Accountabilities
- Global Product Portfolio Strategy: Accountable for the creation and maintenance of a portfolio of customer-centered and market-winning product line strategies that will deliver revenue and gross margin growth aligned with enterprise objectives.
- Global Multi-Generational Product Plans: Accountable for the creation and maintenance of a global portfolio of product roadmaps and initiatives that create a clear path to achieving multi-year objectives for revenue and profit growth across a 3 to 5-year strategic horizon.
- Global Product line performance: Accountable for annual revenue and gross margin performance vs plan for global product portfolio (about $1B)
- Global Pricing Strategy and Deployment: Accountable for setting and maintaining global equipment, parts, and consumables pricing that aligns with a defined competitive positioning strategy, realizes the value to customers, and achieves enterprise objectives for net price realization contribution to growth.
- Global Market Research: Accountable for maintaining and communicating an up-to-date and documented understanding of addressable market size and share, the competitive landscape, global market trends, target market intelligence, and leading indicators of market/business performance.
- Talent: Accountable for attracting, retaining, and developing a team of high performing leaders that are driving revenue growth. Primary Responsibilities:
- Leads the development of a deep and empathetic understanding of customers.
- Maintains a deep and current understanding of global competition, global market trends, and relative market position. Leverages and communicates that understanding to guide the organization in formulating and executing growth strategies.
- Creates a compelling and concise vision for transforming the current product portfolio into an optimized future state portfolio that supports objectives for new product growth, pricing growth, and channel/go-to-market expansion.
- Leads the translation of product portfolio strategies and roadmaps into annual operating plans, ensuring global and cross-functional alignment to the expected business outcomes and the required investments and resources to achieve them.
- Leads engagement with global sales organizations to bolster understanding of customer needs, create and maintain strategic alignment, and partner on plans to deliver against performance expectations for global product lines and new products.
- Partners with global cross-functional teams and leaders to plan and execute all elements of the product management life cycle, including pricing, new product development, cost reduction, quality improvement, portfolio management, and product/SKU rationalization.
- Partners cross-functionally to ensure that business cases for product investments deliver a compelling ROI and hold themselves and the organization accountable for delivering the expected outcomes.
- Oversees new product introduction strategy, planning, and execution.
- Leads the team in maintaining an up-to-date understanding of global product line performance, formulating clear insights into what is driving performance, and executing action plans to course correct where performance is missing expectations.
- Partners with corporate development and leads the team in the identification, formation, and execution of acquisitions and partnerships as key elements of achieving enterprise and product portfolio growth objectives.
- Leads global product pricing in setting and updating list price for the new and current global product portfolio.
- Leads the market research function in the efficient and effective execution of market research, distill key insights, and the communication of insights to internal and (occasionally) external stakeholders.
- Manages and is accountable for a multi-million-dollar budget. Builds annual budgets and achieves annual targets. Consistently derives and executes against monthly and quarterly budget forecasts.
Desired Skills and Experience
- A transformational and executive-level product management leader with a diverse set of experiences that include selling, marketing, and/or general management in a multi-channel, industrial, and B2B environment for a manufacturing company.
- Global commercial leadership experience is strongly preferred. Adept at leading a global team and growing with global customers and in global markets.
- Bachelor’s degree in an applicable field, MBA strongly preferred.
- Adept in creating high-performing and accountable teams and cultures.
- Proven success in leading outsized revenue growth from opportunity identification, to strategy development, execution, and demonstration of results.
- Development of annual business plans identifying key growth strategies, routes to market, and cross-functional plan execution.
- Product and portfolio management, including strategic pricing and market/customer research
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