CMO tenure: Snapshot of an expanding role for marketing leaders

Spencer Stuart found the average tenure among CMOs in the S&P 500 is just 4.1 years, compared to 5.0 years for all C-suite roles at those companies.  

Only COOs were shorter in tenure, at 3.3 years on average. This is likely because COOs are often the role for CEO aspirants. 

“The short tenure may seem like an indication of a revolving door for marketing leaders, but in our analysis, the opposite is true,” Spencer Stuart states. 

“When CMOs leave their role, they are likely to advance to bigger responsibilities. Of the 218 CMO exits between 2021 and 2025, nearly two-thirds (62%) were either promoted at their company or went on to a similar or bigger role at another company.  

“Notably, 9% advance to a CEO role, and 13% become a divisional CEO/President or COO. Of those leaving their organisation, 77% land at a new company within six months.” 

Tenure at consumer companies is the shortest 

This phenomenon is particularly pronounced at consumer companies, where marketing is a huge driver of business performance and where CMOs are often developed for the CEO role. 

“CMO tenure at consumer companies is the shortest of the industries we analysed – 3.5 years, followed by healthcare at 3.9 years. Yet that is likely a measure of success for leaders on their way to a CEO spot,” the researchers say. 

Roughly a third of SP&P 500 companies (31%) do not have a chief marketing officer, in line with historical averages. Most of these companies have some type of marketing capability, but it may sit elsewhere on the organisational chart.  

For example, some businesses decentralise marketing to regions or business units, without a C-level leader overseeing it at the enterprise level. 

In some industries like industrials (where just 53% of companies have a CMO), complex channels and business unit-driven commercial models are more common. 

In still other situations, the top marketing role has evolved to encompass a broader set of responsibilities – akin to a ‘CMO-plus’ role, with a corresponding title change.  

For example, in the hospitality industry, many companies now have a chief commercial officer, responsible for sales and marketing. Software companies are designating a chief revenue officer.  

And retail companies are more likely to name a chief customer officer, who oversees not just the traditional remit of a CMO – brand, creative media, insights and analytics – but also omnichannel activation, retail design and assortment, and even the in-store experience. 

In our sample, 62% of CMOs were appointed from within and 38% are externally hired. Of that latter group, nearly half (43%) come from a different industry, suggesting companies are seeking a different perspective or capability set.