Vice President of Product Innovation – CPG Manufacturing

Are you a forward-thinking leader with a passion for driving product innovation in the Consumer Packaged Goods (CPG) industry? We are seeking a Vice President of Product Innovation to lead groundbreaking initiatives in a leading CPG manufacturing company based in Memphis, TN. This is a unique opportunity to shape the future of product development, enhance brand competitiveness, and revolutionize the market with cutting-edge innovations. If you thrive on creativity, strategic thinking, and cross-functional collaboration, this role is for you.

Drive Product Innovation in a Leading CPG Manufacturing Company

A top-tier CPG manufacturing company in Memphis, TN is looking for a Vice President of Product Innovation to spearhead its product strategy and development. The ideal candidate will have deep expertise in consumer insights, R&D leadership, and go-to-market execution. If you have a strong background in launching successful products, optimizing development processes, and staying ahead of market trends, this is your opportunity to drive meaningful impact in the industry.

Key Responsibilities of the Vice President of Product Innovation – CPG Manufacturing

Innovation Strategy & Leadership

Develop and execute a forward-thinking product innovation strategy that aligns with market trends, consumer preferences, and business objectives. Drive a culture of creativity and continuous improvement to maintain a competitive edge in the CPG industry.

Product Development & R&D Oversight

Lead cross-functional teams in research and development (R&D), ensuring the successful ideation, formulation, and commercialization of new products. Optimize product development pipelines to accelerate time-to-market while maintaining quality and compliance standards.

Consumer & Market Insights

Leverage data analytics, consumer research, and competitive analysis to identify emerging trends and unmet market needs. Translate insights into innovative product concepts that enhance brand positioning and customer engagement.

Cross-Functional Collaboration

Work closely with marketing, sales, operations, and supply chain teams to align product innovation efforts with overall business goals. Ensure seamless integration of new products into manufacturing and distribution channels.

Process Optimization & Cost Efficiency

Implement best practices in product development processes to enhance efficiency, reduce costs, and maximize profitability. Oversee budget management and resource allocation to drive sustainable innovation.

Regulatory Compliance & Quality Assurance

Ensure all new products meet industry regulations, safety standards, and quality benchmarks. Collaborate with regulatory teams to navigate compliance requirements and maintain product integrity.

Go-To-Market Strategy & Commercialization

Drive the successful launch of new products through effective go-to-market strategies, pricing models, and promotional campaigns. Partner with marketing and sales teams to create compelling brand narratives that resonate with consumers.

Team Leadership & Talent Development

Build, mentor, and lead a high-performing innovation team. Foster a collaborative and dynamic environment that encourages experimentation, learning, and professional growth.

What the Client is Looking for in You

As the Vice President of Product Innovation – CPG Manufacturing, the client is seeking a visionary leader with a passion for innovation, a deep understanding of consumer trends, and the ability to transform ideas into successful, market-ready products. You should be a results-driven executive with a track record of leading R&D and product development in the Consumer Packaged Goods (CPG) industry.

Proven Expertise in Product Innovation and Development

The client is looking for an experienced product leader with a strong background in CPG manufacturing and innovation. You should have a history of successfully launching new products, optimizing development processes, and leveraging technology to enhance product quality and performance. Experience in managing the full product lifecycle, from concept to commercialization, is highly valued.

Strategic Thinker with a Vision for Market Growth

As VP of Product Innovation, you must be able to develop and execute a long-term product strategy that aligns with the company’s growth objectives. The ideal candidate will have experience in identifying emerging trends, creating consumer-driven product roadmaps, and ensuring the company remains at the forefront of industry advancements.

Deep Understanding of Consumer Insights and Market Trends

The ability to analyze market data, understand consumer behavior, and translate insights into successful product innovations is critical. The client seeks a leader who can stay ahead of industry shifts, adapt to changing consumer preferences, and drive competitive differentiation through innovation.

Collaborative Leadership and Cross-Functional Expertise

This role requires strong collaboration across R&D, marketing, operations, and supply chain teams. You should be skilled in fostering a culture of teamwork, aligning different departments toward common goals, and ensuring seamless product development and execution.

Operational Excellence and Cost Management

The client values a leader who can balance creativity with efficiency. Experience in streamlining product development processes, reducing costs without compromising quality, and ensuring scalability is essential. Knowledge of regulatory compliance and quality assurance in CPG manufacturing is a plus.

Ability to Inspire and Lead High-Performing Teams

Leadership is at the heart of this role. The ideal candidate will have a track record of building and managing high-performing innovation teams. You should be able to inspire creativity, encourage experimentation, and drive a culture of continuous improvement.

Strong Communication and Stakeholder Engagement

The client seeks a VP who can effectively communicate product vision and strategy to key stakeholders, including executive leadership, investors, and business partners. Your ability to present compelling business cases and secure buy-in for new initiatives will be essential for success.

FAQs About the Role – Vice President of Product Innovation – CPG Manufacturing

1. What are the key responsibilities of the Vice President of Product Innovation?

As the Vice President of Product Innovation, you will lead the development and execution of new product strategies, oversee R&D teams, and drive innovation in alignment with market trends and consumer insights. You will collaborate with cross-functional teams—including marketing, sales, and operations—to bring groundbreaking products to market. Additionally, you will ensure cost-effective product development, maintain quality standards, and optimize the product pipeline to maximize profitability.

2. What qualifications and experience are required for this position?

The ideal candidate should have extensive experience in product innovation, research & development, and go-to-market strategies within the Consumer Packaged Goods (CPG) industry. A strong background in leading cross-functional teams, managing product lifecycles, and leveraging consumer insights to drive innovation is essential. Prior experience in a senior product leadership role within CPG manufacturing is preferred. An MBA or a relevant advanced degree in business, food science, or engineering is a plus.

3. What leadership qualities are essential for this role?

The client is looking for a strategic and creative leader with a strong consumer-centric mindset and the ability to translate market trends into successful product innovations. You should have excellent collaboration skills, problem-solving abilities, and a track record of leading high-performing teams. Strong business acumen, decision-making capabilities, and experience managing budgets and timelines are also key attributes.

4. What challenges can I expect in this role?

As VP of Product Innovation, you will face challenges such as keeping pace with evolving consumer demands, maintaining competitive differentiation, managing R&D timelines, and ensuring regulatory compliance. Balancing creativity with operational efficiency and cost management will also be crucial. Additionally, you will need to navigate potential supply chain constraints and technological advancements that impact product development.

5. What is the expected impact of this role on the company’s growth?

The Vice President of Product Innovation will play a crucial role in driving business growth by launching successful, market-leading products. Your ability to develop and execute an innovation roadmap will directly impact brand expansion, market share, and revenue growth. By fostering a culture of innovation and efficiency, you will position the company as a leader in CPG manufacturing.

6. What is the company’s culture and work environment like?

The company fosters a collaborative, fast-paced, and innovation-driven environment. They value leaders who encourage teamwork, agility, and continuous improvement. You will have the opportunity to shape the innovation culture, drive creative problem-solving, and align product development with the company’s long-term vision.

What Remuneration Can You Expect from This Job?

As the Vice President of Product Innovation – CPG Manufacturing in Memphis, TN, you can expect a competitive compensation package that reflects your expertise in driving product innovation, managing cross-functional teams, and leading market-driven strategies. Your remuneration will likely include the following:

1. Base Salary

The base salary for a Vice President of Product Innovation in the CPG manufacturing industry varies based on company size, revenue, and market position. Typically, salaries for this role range between $200,000 and $350,000 annually, with higher compensation at larger, more established firms.

2. Performance-Based Bonuses

In addition to the base salary, this role includes annual performance-based bonuses, which are tied to key metrics such as:

Product launch success
Revenue growth from new product lines
Innovation pipeline development
Cost efficiency in product development

These bonuses can range from 20% to 50% of the base salary, depending on individual and company performance.

3. Equity & Stock Options

To align executive incentives with company growth, many CPG companies offer stock options, restricted stock units (RSUs), or performance shares. Equity-based compensation can be a substantial part of the total package, especially in high-growth or publicly traded firms.

4. Long-Term Incentive Plans (LTIPs)

Some companies provide long-term incentive plans (LTIPs) that reward executives for sustained product innovation, brand expansion, and profitability over multiple years. These programs ensure that leaders remain focused on long-term company growth and market leadership.

5. Executive Benefits & Perks

The VP of Product Innovation role often includes an executive benefits package, such as:
✅ Comprehensive health, dental, and vision insurance
✅ 401(k) with company matching or executive pension plans
✅ Professional development and leadership training
✅ Company-paid travel and expense accounts
✅ Executive wellness programs
✅ Relocation assistance (if applicable)

6. Signing Bonuses & Relocation Assistance

For top-tier candidates, companies may offer signing bonuses or relocation packages to secure top talent. These bonuses can range from $25,000 to $100,000, depending on the company’s budget and candidate’s experience level.

Total Compensation Potential

When considering base salary, performance bonuses, stock options, and long-term incentives, the total compensation for a Vice President of Product Innovation in the CPG sector can range from $300,000 to $600,000+ annually. High-performing executives in larger firms or public companies may receive even more lucrative packages based on the impact of their innovations on business growth.

How to Apply

If you are a visionary leader with a passion for innovation in Consumer Packaged Goods (CPG) manufacturing, we invite you to apply for the Vice President of Product Innovation role in Memphis, TN. This is a unique opportunity to drive product development, lead R&D teams, and introduce cutting-edge solutions to enhance market competitiveness.

To apply, please submit your resume and a cover letter highlighting your expertise in product innovation, go-to-market strategies, consumer insights, and R&D leadership within the CPG industry. Emphasize your experience in developing high-impact product pipelines, optimizing cost-efficient production processes, and launching market-disrupting innovations.

This role offers a high-impact career opportunity where you will play a pivotal role in shaping the company’s product roadmap, accelerating growth, and fostering a culture of creativity and excellence. Apply today to take the next step in your executive career as Vice President of Product Innovation – CPG Manufacturing in Memphis, TN!

For more information or to explore similar opportunities, visit our CPG Executive Recruiters Page.

Tags:

Job Category: CPG Manufacturing

Job Type: Full Time

Job Location: Memphis

Vice President of Product Innovation – CPG Manufacturing – Memphis, TN