As value creation pressures mount in private equity, firms are rethinking how transformation is led and delivered. Evan Berta, an associate at Hunt Scanlon Ventures, unpacks new research from a Wilton & Bain report on the case for embedding Chief Transformation Officers (CTrOs) in portfolio leadership – and what it means for executive search and talent strategy.
In a new report from executive search firm Wilton & Bain, Securing CEO Buy-In for a Chief Transformation Officer in PE-Backed Businesses, Jack Syred, a partner who leads the private equity transformation & value creation at Wilton & Bain, makes a compelling case that ‘execution – not strategy – is often the bottleneck to value creation.”
This shift in thinking is reshaping hiring mandates across private equity, creating increased demand for operationally minded transformation leaders who can bridge strategy and delivery.
For executive search firms, the message is clear: the CTrO is no longer a niche hire; it is quickly becoming a core mandate in performance-driven portfolio leadership.
“It is a huge opportunity for executive recruiters who are embedded in the value-driven creation talent ecosystem,” said Evan Berta, an associate with Hunt Scanlon Ventures.
EBITDA Uplift
Mr. Syred outlines data that shows transformation efforts led by incumbent teams succeed less than 30% of the time. In contrast, CTrO-led transformations are 2.4x more likely to exceed their targets.
“It is a huge opportunity for executive recruiters who are embedded in the value-driven creation talent ecosystem.”
Moreover, CTrOs now account for over 35% of realized EBITDA uplift in PE-backed firms, nearly doubling their contribution since 2022.
“This growing impact is driving a fundamental change in talent requirements,” according to Mr. Berta. Private equity investors are increasingly looking for transformation leaders who don’t just execute playbooks, but who can deliver results tied to enterprise value.
“For executive search professionals, that means mapping a different kind of candidate pool: not just consultants, but transformation operators with P&L credibility and private equity fluency,” said Mr. Berta.
New Succession Pathways
The Wilton & Bain report emphasizes that the CTrO cannot be viewed as a temporary fix. “Avoid parachuting in a generic consultant,” Mr. Syred noted. Instead, firms should target “low-ego, high-EQ operators with a relevant track record.”
That evolution has direct implications for human capital firms.
“For executive search and human capital advisors, the opportunity is twofold: deliver transformation talent that drives EBITDA, and shape succession-ready leadership pipelines tailored for the realities of private equity.”
The best CTrOs are proving to be future COOs, or even successor CEOs. This creates new succession planning pathways for PE firms and opens the door for longer-term leadership development and onboarding programs.
Search partners who can identify these dual-purpose leaders will have a major edge in future mandates.
Bridging the Boardroom
Mr. Syred highlighted another key function of the CTrO: acting as the translator between fund strategy and management execution. “The best CTrOs operate with a foot in both camps – they drive transformation delivery inside the business, but also act as a translator for the fund.”
This bridging capability is especially valuable for human capital advisors. It informs how executive teams are structured and how performance is measured post-close. Talent professionals must work closely with PE sponsors to clarify these roles early, ensuring alignment between cultural integration, operational KPIs, and investor expectations, said Mr. Berta.
Leadership Pipelines
Mr. Syred said that CTrOs are becoming “linchpins of value creation,” especially when introduced with clear governance, cultural alignment, and a runway to grow into broader roles.
For executive search and human capital advisors, the opportunity is twofold: deliver transformation talent that drives EBITDA, and shape succession-ready leadership pipelines tailored for the realities of private equity.
As more funds seek to institutionalize value creation, transformation leadership is becoming a permanent fixture, not a project-based intervention. The firms that can source, assess, and support this evolving CTrO profile will be key partners in the next generation of deal success.
Article By
Evan Berta
Evan Berta is an Associate at Hunt Scanlon Ventures, specializing in data analysis, market mapping, and target list preparation. He plays a critical role in identifying and building out groups of firms in sectors of interest, including preparing strategic overviews of top potential targets for acquisitions. Evan’s analytical expertise supports the firm’s sourcing initiatives, particularly in identifying niche and emerging market opportunities, and delivering actionable insights on tight timelines.
