CHICAGO, March 23, 2017 /PRNewswire/ -- The average tenure for chief marketing officers of leading U.S. consumer brand companies dropped from 44 months to 42 months, according to the 13th annual CMO tenure study by leadership consulting firm Spencer Stuart. This represents a two-year decline of six months, or 13%, over the last two years.
The study also looked at median tenure, which unlike the "average" tenure saw a very slight uptick from 26.5 months in 2015 to 27 for 2016. The CMO tenure data set is based on an analysis of the tenures of CMOs from 100 of the top U.S. most advertised brands as of December 31, 2016.
Nearly half (48%) of CMOs have been in the role for two years or less, consistent with 2015. However, there was a decline in the number of CMOs who have been in the role for three or more years, 34% in 2016 versus 41% in 2015 and 49% in 2014.
Who Are The New CMOs?
The 16 new CMOs for 2016 are somewhat less likely to be a first-time CMO or diverse than last year, but more likely to be female or promoted from within than the overall group of 98 sitting CMOs. Ten of new CMOs (63%) moved into the top marketing job for the first time versus 70% of the overall CMO group. Only one of the new CMOs (6%) represents a diverse background, compared with 9% of all CMOs included in the study. By contrast, five of the new CMOs (31%) are female, compared with 23% of all CMOs. Eleven (69%) of the new CMOs were promoted from within, versus 61% of all CMOs.
About Spencer Stuart
At Spencer Stuart, we know how much leadership matters. We are trusted by organizations around the world to help them make the senior-level leadership decisions that have a lasting impact on their enterprises. Through our executive search, board and leadership advisory services, we help build and enhance high-performing teams for select clients ranging from major multinationals to emerging companies to nonprofit institutions. For more information on Spencer Stuart, please visit www.spencerstuart.com.
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SOURCE Spencer Stuart