Follow-the-sun has evolved to follow-the-talent. Managing a product thus has a true global perspective. Products increasingly are developed in virtual teams using agile set-up and gig economy practices. The success of a product or service depends on its product management. Recently software product management has moved closer to software development in its understanding that market decisions have technical impact, and vice versa. This research provides results from an empirical field study with twenty companies from different regions and industries worldwide. This benchmark provides an overview on software product management in its global context. It investigates how software products are managed in global context, such as the changing role of a product manager and managing products in virtual teams. The empirical study provides concrete practices to fertilize and evolve software product management in global teams and thus the success of products in terms of predictability, quality and efficiency. With increasing institutionalization of a consistent and empowered product management role, global product development benefits in terms of schedule predictability, quality and project duration.