Leadership is a vital success factor for organizations, particularly when leading change. Conducting a digital transformation presents further challenges for leaders, in addition to those of running the day-to-day business and dealing with financial, regulatory and risk constraints. Jean Elia brings almost 30 years of experience in the financial sector, including 18 years as CEO of major life insurance companies. Drawing from this extensive expertise, he completed an EDBA (Executive Doctorate in Business Administration) thesis on Leadership in Digital Transformation, which served as the foundation for two books. He shares with us some of the outcomes of his research.

1.   Can you give us a brief overview of the core of your thesis on digital transformation leadership? What motivated you to delve into this specific topic?

As Jeff Bezos stated, "there is no alternative to digital transformation," and this holds true across all industries, including finance. My first goal was to provide a concrete definition of digital transformation through an in-depth exploration. Leadership, however, is often discussed in abstract terms, detached from real-world situations. Therefore, my second objective was to address "situated leadership" - i.e. leadership within a specific context, in this case, digital transformation - by examining it through case studies, fieldwork, and relevant literature.

Consequently, my thesis deals with digital transformation from a leadership perspective. This means that I was - and still am – interested in understanding the mindset of leaders: how they conceptualize digital transformation in their thinking and how this is represented in their actions.

2.   What was your approach?

Living in Luxembourg and working in the financial sector have created what researchers refer to as an " opportunity of the environment. This led me to choose a grounded theory methodology, based on qualitative data. I conducted interviews with 21 bank CEOs - exclusively CEOs - from various countries, analyzing their insights and comparing them with findings from my extensive literature review, which was conducted in parallel and independently. I later  contrasted their views with my own experience as a professional in the financial sector. For this, I adopted a "pragmatist" approach, which focuses on acquiring knowledge on complex issues and making them more understandable. The result is a set of pluralistic proposals aimed at improving, solving, and transforming practices and situations.

3.   What led you to write two books, Leadership of Digital Transformation and Think Digital, Act Digital, Speak Digital, and how do they differ from your thesis?

My primary goal in publishing my thesis as a book was to share my research findings and recommendations with many interested parties, including the CEOs I interviewed. This resulted in the first book, Leadership of Digital Transformation, published by EMS, which condenses about two-thirds of the thesis into a shorter, easier-to-read format.

The second book, Think Digital, Act Digital, Speak Digital, published in collaboration with Ideas for Leaders, takes a different approach. It's even shorter - we humorously call it the "airport bookstore version". This book aims to further simplify the thesis, making it more accessible to a broader audience, particularly for use in seminars and, perhaps one day, for sale in airport bookstores!

4.   How do you define digital transformation in the context of your research?

I define digital transformation not only from a technological or digital perspective but also from a transformational standpoint: "Digital transformation is the optimal use of new technologies, which transforms the way a company interacts with its customers, thus ‘enhancing’ the latter’s experience; the way it functions internally, hence optimizing its efficiency and enhancing employee experience; and the way it disrupts the business model itself to create more value and enlarge the market base" (Editor's note: Elia, 2023).

Building on this definition, I have organized my research on digital transformation around four key themes: customer experience, operational efficiency, the evolution of future business models, and, importantly, its impact on organizational structure.

As for leadership, I conducted an in-depth exploration of leadership and leadership theories, focusing on the leader’s role, leadership traits, and leadership styles in driving digital transformation. I conclude this section by highlighting the distinct differences between traditional leadership and leadership in the context of digital transformation.

5.   What are the key findings revealed in your thesis and books?

Each chapter of the books offers numerous insights and recommendations for leaders, which I have summarized into a "CEO’s Guide for a Successful Digital Transformation," highlighting five key managerial recommendations:

1.    Digital transformation is a substitution, not a complement. It’s not just an extra feature or project for the organization but, as the term implies, a complete transformation.

2.    A successful digital transformation strategy is a top-down strategy. It requires a detailed roadmap focused on the end goal, rather than a series of one-off initiatives.

3.    Agile and Agility, are both the questions... and answers. I recommend deploying Agile on three levels: agile methodology for project management, agile management to lead the organization, and agile at scale for the organizational structure

4.    Digital transformation is non-delegable. The CEO’s role is to define, promote, and most importantly, take ownership of the strategy.

5.    In digital transformation, leadership is key. While leadership is always essential for organizations, it becomes even more vital when steering a digital transformation. 

6.   In your books, you discuss various technologies. Do you address AI, and how should leaders handle such emerging technologies?

Yes, I certainly discuss AI and try to define it in simple terms. However, like all technologies, AI is constantly evolving. That’s why adaptability is essential for leaders. I emphasize in my books that leaders don’t need to be experts in every new technology - what I refer to as "new new technologies" - but they must understand their potential and capability, and know how to implement them in their organizations when necessary. This underscores why leadership is so critical in digital transformation.

7.   Where can your books be purchased?

The first book, Leadership of Digital Transformation: The Case of CEOs in the Banking Industry, can be ordered from major online platforms or directly from the publisher, EMS, in both digital and print formats. The second one, Think Digital, Act Digital, Speak Digital, is also available on major platforms but is primarily distributed at seminars, particularly those where I’m a speaker!