Keeping Time: Why CMO Tenure Has Doubled
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Back in 2006, Ad Age published a sobering statistic: The average tenure of chief marketing officers was a troublingly short 23 months. The latest figure, released last week from executive-search firm Spencer Stuart, shows a radically different picture — CMOs are sticking around an average of 45 months. So what’s behind nearly a doubling of CMO tenure during a time frame in which the job has only gotten tougher due to recession, a still-shaky economy and upheaval in adland as digital, social and data management reshape the marketing landscape?
The answers: a recession, a still-shaky economy and upheaval. The increased complexity of the job has made CMOs more fulfilled, challenged and respected, resulting in a big shift in how long they stick around.
“The reality of the economic downturn, which has been somewhat on-again, off-again, has led to CEOs understanding the power of brands, strong brands,” said Alison Lewis, who has been senior VP-Coca-Cola North America marketing since mid-2011. “Building strong brands requires more continuity.”
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