Why More CMOs Are Being Elevated to President or CEO Roles
Hobart's Promotion at Dick's Marks Turning Point for Retail
The Advertising Age article, “Why More CMOs Are Being Elevated to President or CEO Roles,” quoted Russell Reynolds Associates Consultant Richard Sanderson about the increasing frequency of CMOs being promoted into the CEO role. The article is excerpted below.
In a rare move for retail, Dick's Sporting Goods has promoted Chief Marketing Officer Lauren Hobart to president. Hobart, a veteran marketer who formerly worked at PepsiCo, has been with the Coraopolis, Penn.-based chain since 2011 and has been credited with driving growth online and through in-house brands like Carrie Underwood's Calia label.
"As the scope and impact of marketing leadership roles expands, we are seeing CMOs actively being discussed and evaluated in succession conversations with boards," said Richard Sanderson, co-leader of the marketing officers practice at Russell Reynolds.
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