Chief　data　officer　(CDO)　is　a　C-level　executive　who　is　responsible　for　extracting　strategic　business　value　from　organizational　data.　There　are　increasing　numbers　of　companies　employing　CDO　in　order　to　improve　performance　and　develop　competitive　advantage.　However,　the　relationship　between　CDO　presence　and　firm　performance　has　not　been　rigorously　studied　and　validated　in　current　literature.　Based　on　the　upper　echelon　theory,　we　propose　that　CDO　presence　influences　firm　performance,　and　factors　of　TMT　composition　and　structure　will　moderate　this　relationship.　Data　from　45　firms　indicates　that　there　are　strong　relationships　between　CDO　presence　and　firm　performance　in　terms　of　abnormal　stock　return.