The latest CMO Tenure Study from Spencer Stuart highlights the analysis of 100 of the most-advertised US brands.
Though nearly half of chief marketing officers were women last year, very few of them were from ethnically or racially diverse backgrounds. Around 47% of CMOs in the US were women in 2020, up from 36% in 2018. Additionally, 52% of incoming CMOs last year were women.
But, only 12% of CMOs in 2020's incoming batch were from racially or ethnically diverse background, a steep fall from 19% in 2019. Only 13% of chief marketing officers were from diverse backgrounds in 2020, down from 14% in 2019.
The pandemic has made the CMO's role highly volatile, having dropped to its lowest average tenure in over a decade in 2020. In contrast, CEO positions saw their average tenure reach an all-time high of 80 months last year.
[3 minute read]