Page 24 - 2019 Hispanic Market Thought Leaders

2019 HISPANIC THOUGHT LEADERS Presented by HispanicAd.com
women, compared with 28 (28%) in 2017; 8 (44%) of the 18 new CMOs in this year’s class are
women.
However, Spencer Stuart also finds that just 9 CMOs (10%) are minorities, a decline from 11 in
2017. There was a “stark decline” in minority representation among new CMOs; none of the 18
new CMOs are minorities, compared with 6 of the 21 (29%) new CMOs in 2017.
Greg Welch, a consultant in the Spencer Stuart Marketing Officer Practice who initiated the
firm’s CMO Tenure Study in 2004, said, “There are encouraging signs in this year’s tenure study,
particularly the increase in the number of women in this year’s freshman class, but considerably
more needs to be done to bring more minority representation into the CMO ranks. The increase
in first-time and internally promoted CMOs demonstrate that organizations are investing in
developing the next generation of marketing leaders, presenting an opportunity to increase the
pipeline of minorities in marketing leadership roles.”
Furthermore, Welch acknowledges that the CMO title is fading. And, this has had some impact on the survey.
“One of the messages that can get lost when focusing too much on average tenure is how CMOs jobs are evolving, especially for those marketers who are being asked to take on roles and responsibilities beyond the marketing organization,” Welch said. “We are seeing more instances where CMOs are being tapped for GM roles such as Raj Subramaniam, who was just named President/COO of FedEx Corp. and co-president and co-CEO of FedEx Services, joining the likes of Jeff Jones who is President/CEO at H&R Block, and Mary Dillon, who is the CEO of Ulta.”
He added that CMOs are also finding their place in the boardroom as well, with Wells Fargo CMO Jamie Moldafsky at R.R. Donnelley and Nike CMO Michelle Peluso at IBM.
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