6 Findings From An Analysis Of CMO Turnover
Kimberly A. Whitler
The Forbes article, “6 Findings From An Analysis Of CMO Turnover,” featured the findings from the firm's research on CMOs in "Marketing Moves 2017: Q1-Q2." Russell Reynolds Associates Consultant Richard Sanderson also gave his insights on the key trends in CMO turnover. The article is excerpted below.
Twice a year, Russell Reynolds Associates (RRA) analyzes CMO moves by compiling and reviewing all publicly disclosed marketing leadership appointments. To provide general insight on the findings, Richard Sanderson, Executive Director, Marketing, Consumer and Retail at RRA, suggests: “Marketing leaders continue to be at the center of the storm in terms of c-suite volatility and turnover. The role is rapidly expanding and evolving. The definition of what it means to be a marketing leader varies immensely not just across industries, but also across competitors in the same industry (see here for more insight on the different types of CMOs). Not surprising then that CMO succession planning has become a major gap when CMOs themselves seem uncertain about their own future and longevity, let alone that of their team members they should be developing.
For aspiring CMOs, the news is particularly challenging. The appointment data suggest that in many cases, next generation CMOs will need to move outside of their current employer to achieve their own career goals. That is a difficult message to share as it implies the next generation need to be actively thinking about their own career management and ensuring they are being offered the development skills they need to get to the next level. The message seems to be that while you must continue to deliver and grow with your current employer, you may need to occasionally cast an eye outside. It’s a very tough balance between perceived disloyalty versus looking out of what’s best for your own career.”
Below, RRA identified six trends that were noteworthy, based on CMO moves that occurred in the first half of 2017.
To read the full article, click here.