Role Evolution of the Chief Privacy Officer (CPO) in the Digital Economy

The dramatic increase in the number of breaches of customers' and employees' data has led to the threat of their identity theft and information privacy invasion, consequently causing loss of organizations' financial status, reputation, and subsequent customers. As a result, many organizations have created a new strategic management position to enhance their information privacy practices, the Chief Privacy Officer (CPO). CPOs play a critical role in securing the privacy of customers' or employees' personal information towards building their trust and loyalty to the marketplace.