Management Turnover as Change Agent

Thursday, June 18, 2009

Recommended Reading - Why CMO Role is Not as Important as You Think, Advertising Age

Natalie Zmuda wrote a story today in Advertising Age that examined the Chief Marketing Officer title and its relative importance in Fortune 1000 companies. Zmuda refers to a recent study conducted by Ernst & Young as evidence for the title of her story.

A study conducted by Ernst & Young and presented as part of a panel with chief financial officers at the ANA Marketing Accountability and Effectiveness Conference found that 13% to 15% of Fortune 1,000 companies employ some sort of marketing position with a chief or senior-executive-level title, such as chief marketing officer or chief revenue officer. And only 70, or 7%, of those firms list the head marketer — carrying any title, not just CMO — in financial filings. Being listed in those public filings means an individual is among the highest compensated executives at the company and sits on the operating board, which is charged with fiduciary and operating responsibility for the company.

Anyone interested in CMOs and their relative importance within large public companies should read the piece.

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