CMOs at top US advertisers are leaving their roles sooner

Key stat: The average tenure for CMOs at top US advertisers was around three years (37 months) in 2023, according to an April 2024 report by Spencer Stuart.

Beyond the chart:

• Compared with a decade ago, CMOs tenure at top US advertisers is decreasing.e. In 2013, the average tenure was around three years and nine months, the same report found.
• CMO tenure varies based on the industry and company size. For example, CMOs at B2C companies stay an average of four years, while CMOs at Fortune 500 B2B companies stay four and a half years.
• The CMO role is evolving amid the rise of AI, and sometimes, even being phased out altogether. In March, Starbucks got rid of its global CMO position, following other companies such as Johnson & Johnson and Uber.

Use this chart:

• Illustrate the changing role of the CMO.
• Advocate for C-suite retention strategies.

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Methodology: Data is from the April 2024 Spencer Stuart "Annual CMO Tenure Study." Information is based on the analysis of the tenures of US CMOs from the 100 companies included in the Ad Age Leading National Advertisers list as of December 31, 2023.