An executive recruiter on the evolution of the chief marketing officer role: Marketer’s Brief Podcast
If you think corporate boards have a dearth of chief marketing officers, you’re right. A new study from executive search firm Spencer Stuart found only 26 seats among the Fortune 1000 companies are occupied by CMOs.
On the latest edition of Ad Age's Marketer's Brief podcast, Richard Sanderson, a consultant in Spencer Stuart’s consumer and marketing officer practices, discusses this lack of representation, what CMOs could do to help pave the way to boardrooms, and more.
“Despite the fact that CMOs are bringing more insight around digital, around data analytics, around brand stewardship, around customer experience, customer journeys—topics that are increasingly being discussed at the board—there hasn’t been any greater representation,” says Sanderson. The question, he says, is "how can they better brand or market themselves and their skills and capabilities?"
(Board seats, by the way, often come later in a career. The average age of directors on the board’s of S&P 500 companies is 63, according to Spencer Stuart’s findings.)
In his conversation with Ad Age, Sanderson also touches on the rise of positions including chief growth officer, chief commercial officer and chief experience officer, and worries about the elimination of the CMO role as the others become more commonplace.
He also covers the challenges of the position itself, and how it varies from company to company. “I always worry that marketing is a widely used-and-abused term that means different things in different companies, even within the same industry,” says Sanderson. [CMO] is probably the most inconsistent leadership role I see out there.”
For more, including what companies look for when searching for a CMO, have a listen.
Contributing: Jessica Wohl