Why More CMOs Are Wanted as Board Directors
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Boards of directors at the country’s largest companies are in dire need of digital and mobile expertise, consumer insights and diversity — and they’re looking to top marketers to fill those gaps.
Executives sitting on boards overwhelmingly are white males over 60 who are either current or former CEOs and chief financial officers. Increasingly, say recruiters, those boards are realizing they need to diversify both in terms of skill sets and demographics. According to Spencer Stuart, just 38 of the more than 9,800 board seats available at Fortune 1000 companies are filled by a chief marketing officer.
“Boards are really looking for fresh perspective and strategic business insights,” said Bonnie Gwin, CEO of the board practice at Heidrick & Struggles. “There’s an agreement among board members that somebody who has deep marketing skills will also bring good business insights, is strategic and creative. … Many of those CMOs can also bring diversity, in terms of gender or ethnicity,” including international experience, which she said is “a plus.”
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