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Electrical Sector Digital and Software Strategy & Business Development Director (Remote)

Company: Eaton
Location: Salt Lake City
Posted on: January 15, 2022

Job Description:

In this newly created role, the Electrical Sector Digital & Software Strategy and Business Development Director (Remote) will work closely with senior leaders from the Electrical Sector; Eaton's Digital Office; individual Divisions (Business Units); and Corporate Development & Planning (CD&P) to develop and execute inorganic strategies that support the creation of digital and software-based capabilities and service offerings that will drive revenue growth from the sale of software, data, and associated services.

This role will require the incumbent to:

  • Partner closely with internal stakeholders (Electrical Sector, Digital Office, Divisions) to identify and prioritize the digital and software capabilities required to drive revenue growth from software, data monetization, and associated services
  • Partner closely with internal stakeholders to help determine which high priority digital and software capabilities to build vs. buy
  • Collaborate with internal stakeholders to create, assess, and progress a pipeline of potential digital and software targets for either non-controlling investments or full acquisition
  • Partner with the Digital Office, Divisions (Business Units), and CD&P to articulate the strategic rationale for an investment, develop a point of view on valuation, and define and quantify the potential value of any associated commercial partnership between Eaton and a specific target
  • Engage with external technology ecosystem participants (early stage companies, relevant VCs, incubators, universities) to develop market awareness and a point of view on current and emerging digital and software technologies relevant to the Electrical Sector and Eaton's customers' needs
  • Monitor, synthesizing, and distilling insights digital and software investment and partnership activities by Eaton's current or potential future competitors in the Energy Transition space The Digital & Software Strategy & Business Development Director (Remote) will also lead special high-priority projects (e.g. assessment of new industry spaces / market adjacencies; evaluation of market entry options in new geographies; development and leadership of cross functional growth initiatives) as required by Eaton's Electrical Sector Leadership Team.

    The essential functions for this role include but are not limited to the following:
    • Support strategic planning efforts for Electrical Sector and individual Divisions (Business Units):
    • Work with Digital Office and business leadership teams to identify and prioritize growth opportunities enabled by digital and software capabilities that support revenue growth from software, data monetization, and associated services
    • Collaborate to develop strategic rationale and quantify organic and inorganic investment requirements for high priority digital and software capabilities
    • Support creation of formal Strategic Plan documents for the Electrical Sector (working in conjunction with applicable Divisions (Business Units))
    • Lead teams in evaluating specific acquisition or minority investment opportunities that support revenue growth from software, data monetization, and associated services:
    • Work with Digital Office and Electrical Sector business leaders to articulate strategic rationale for investing in specific targets
    • Partner with CD&P to prepare complete valuation cases with robust strategic and financial analyses
    • Coordinate CD&P and Division (Business Unit) activity to develop aligned qualitative and quantitative view of base business; sales / cost synergy assumptions; and growth prospects
    • Support CD&P in gathering input from business teams, reviewing and revising legal documents, developing and executing negotiation approaches, and resolving open issues that could affect the transaction or valuation; on an asneeded basis, lead all of these activities for specific deals
    • Work with Senior Leaders to articulate Electrical Sector strategy to internal and external audiences, especially as it relates to digital and software capabilities and driving associated revenue growth
    • Work closely with Digital Office and Electrical Sector business leaders to identify inorganic digital and software growth opportunities and build, manage, and progress a pipeline of potential digital and software targets
    • Identify and assess companies that fit with inorganic growth priorities and strategies
    • Prioritize targets and monitor their performance
    • In some cases, establish contact with and maintain ongoing cultivation of target companies
    • Ensure coordination of global product lines by working with similar business units across multiple geographies on strategy, product roadmaps, and commercial approaches, especially as related to complementary digital or software products or service offerings
    • Train business unit leaders in mergers & acquisition (M&A) tools and processes and ensure CD&P understands the strategic priorities of the Electrical Sector's Divisions (Business Units)
    • Conduct ongoing analysis of current and emerging digital and software technologies, including moves by Eaton's competitors; synthesize these findings and develop recommendations for Electrical Sector and Digital Office leadership with respect to current or future digital / software products and service offerings
    • Lead or participate in special high-priority projects, e.g. assessment of new industry spaces / market adjacencies; evaluation of market entry options in new geographies; development and leadership of cross functional growth initiatives Eaton provides a competitive total rewards package commensurate with applicable skills, knowledge, and experience and consistent with internal and external market practices.

      The annual salary range for this role is $174,720.00- $240,240.00 a year with an annual performance-based incentive plan with a target at 28% of base salary. At Eaton, we know that good benefit plans are important to employees and their families. In addition to a competitive base salary, Eaton provides various Health and Welfare benefits as well as Retirement benefits. Click here for more detail: Eaton Benefits at a Glance.

      BASIC QUALIFICATIONS:
      • Master's Degree in Business Administration from an accredited institution
      • Minimum four years developing and applying strategic frameworks, executing market / industry / technology analyses, and conducting financial modeling / valuation, ideally in roles with management consulting firms or in-house corporate strategy / corporate development teams at blue chip companies
      • Minimum six years' professional experience working in digital or software environments (mature or early stage / startup enterprise software companies, venture investing, startup incubators, etc) characterized by:
      • Leveraging digital capabilities and data to create value for enterprise customers
      • Developing and scaling recurring / software-as-a-service (SaaS) business models
      • Executing the full B2B / enterprise sales lifecycle
      • Integrating digital and data-oriented solution with hardware and service offerings
      • Minimum 12 years total professional experience
      • Legally authorized to work in the United States without company sponsorship

        POSITION CRITERIA:
        • Extensive experience and proven success in the following areas:
        • Identifying investment or acquisition targets with high-growth software offerings or differentiated digital platforms relevant to market verticals traditionally served by industrial technology companies (e.g. utilities, industrial manufacturers, data centers, commercial buildings and infrastructure, etc.) - Assessing where targets are in their lifecycle (e.g. minimum viable product (MVP), proven technical solution with demonstrated product-market fit, commercial scaling, etc.)
        • Defining strategic rationale for investment in / acquisition of potential digital or software targets from a strategic acquirer / investor perspective
        • Determining appropriate deal structure for a specific target (e.g. minority investment, minority investment in conjunction with commercial partnership, full acquisition, etc.) based on target's lifecycle, strategic investor priorities, linkages back to core business, etc.
        • Strong understanding of the key characteristics differentiating enterprise software / digital platforms in terms of financial performance based on P&L, balance sheet, and required investment perspectives
        • Ability to quickly assess potential digital platform or software acquisition / minority investment targets and communicate rationale for investment, key strategic value elements, synergies, growth prospects, and risks
        • Strong time management skills; ability to prioritize and balance work on multiple projects simultaneously
        • Demonstrated experience leading both junior and senior-level cross-functional teams through influence and thought leadership
        • Strong and adaptable professional presence; comfortable communicating and working with senior executives in contexts ranging from informal collaboration to formal reviews / presentations
        • Well-developed written and verbal communications skills
        • Advanced Microsoft Excel and PowerPoint skills and experience with a variety of industry research platforms
        • Travel as necessary for project work, up to -25%, depending on project specific activities

          PREFERRED QUALIFICATIONS:
          • Valuation and deal structuring experience focusing on technology, digital, and software companies, especially if gained in a venture capital or investment banking context
          • Prior experience working in product management, engineering, or commercial sales strategy roles within software companies (preferable enterprise software)
          • Demonstrated aptitude for quickly grasping highly technical concepts, identifying digital or software value proposition components, and then clearly articulating them to non-technical executive audiences
          • Knowledge of industrial technology companies, including electrical products and services
          • Successful experience planning and executing post-merger integration of digital or software companies into large, hardware-oriented acquirers
          • Experience developing and / or implementing digital technology-based business strategy transformations
          • International experience

            Eaton also considers qualified applicants regardless of criminal histories, consistent with local laws. To request a disability-related reasonable accommodation to assist you in your job search, application or interview process, please call 412-893-3600 or send an email to: AccommodationsForApplying@Eaton.com

            Job

            Development Planning

            Region

            North America - US/Puerto Rico

            Primary Location

            United States-Ohio-Beachwood

            Work Locations

            Beachwood OH Loc

            Organization

            Electrical Sector

            Job Level

            Director

            Schedule

            Full-time

            Is remote work (i.e. working from home or another Eaton facility) allowed for this position?

            Yes

            Does this position offer relocation?

            Relocation from within hiring region only

            Travel

            Yes, 25 % of the Time

            Requisition ID :109235

Keywords: Eaton, Salt Lake City , Electrical Sector Digital and Software Strategy & Business Development Director (Remote), Executive , Salt Lake City, Utah

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