CMO Update: Female Appointments At All-Time High And Is The CMO Succession Crisis Here To Stay?
The Forbes article, “CMO Update: Female Appointments At All-Time High And Is The CMO Succession Crisis Here To Stay?” was written by Russell Reynolds Associates Consultant Norm Yustin on the monumental increase in female marketing leadership appointments. The article is excerpted below.
Russell Reynolds Associates is in our sixth year of monitoring Chief Marketing Officer moves. We are excited to report that
female marketing leadership appointments are at an all-time high, accounting for 48% of all CMO moves in the first half of 2019. Another on-going trend is that the
CMO succession crisis continues, as four-out-of-five marketing leadership roles went to external candidates in the first half of 2019. This means that a next-in-line marketer only has a 1-in-5 chance of getting his or her boss’s job.
In the first half of 2019, there were over 200 senior marketing job changes, an increase of 12% versus the same period last year and the highest total in any six-month period. Record low unemployment and record high job openings has caused a flurry of hiring activity with senior level marketers, making it a “buyer’s market” for talent.
Some notable marketing moves this year to date include:
Best Buy has appointed Allison Peterson as chief customer and marketing officer. Peterson is responsible for leading eCommerce business, marketing strategy, and customer experience. She most recently was president, eCommerce, at the Company.
Gap has appointed Alegra O'Hare as senior vice president and chief marketing officer. O'Hare most recently was vice president, global brands communications, at Adidas.
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