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Home » Digital Takes Toll of CMOs Concludes New Study

Digital Takes Toll of CMOs Concludes New Study

by | Sep 5, 2016

A study published by Russell Reynolds Associates shows that CMO turnover is higher than ever. According to Ad Age, “in some industries, the trend is eye-popping — particularly in retail, where 48% of the top 30 retailers in the U.S. have had a change in marketing leadership in the last 12 months. Consumer tech, media, CPG and hospitality industries also had high levels of churn in the CMO hot seat.

“What’s more, 62% of companies replace their CMOs with someone from outside the company, a clear indicator that many CEOs don’t believe anyone else who works at their companies has the answers either.

“What the hell is going on?

“Well, in interviews with a dozen CMOs and CEOs, Russell Reynolds concluded that there were eight distinct factors — but if I were pressed to summarize them, it would be “Digital, digital, digital, digital, digital, digital, digital, and CEOs making scapegoats out of CMOs to buy more time to deal with digital.”

About the Author

Capitol Communicator

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Visit www.capitolcommunicator.com to learn more.

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