Demand for CMOs rose in 2020

New Ideas in MarketingEssential news for marketers, summarised by YouGov
April 09, 2021, 5:21 PM UTC

A recent Russel Reynolds Associates (RRA) study found that though CMO appointments in the US rose last year, fewer jobs went to women. 

The study found CMO appointments in North America increased 25% last year. The demand for CMOs rose even higher in the second half of 2020, with CMO appointments increasing 17% from the first six months.

Women accounted for around 45% of CMO appointments last year. In contrast, only 27% of other C-level jobs went to women. Men also dominated other sales role, accounting for 92% of chief revenue officers and 84% of chief sales officers.

An overwhelming majority of CMOs were hired externally last year. The report further found companies are prioritising candidate competencies over industry experience. These numbers indicate that marketers have carved a more prominent place among the corporate leadership as brands look to navigate pandemic-related challenges.

Read the original article

[3 minute read]