CMOs overlooked for top job as boards favour executives with finance background

Screen Shot 2014-10-22 at 1.06.00 PMCompanies are continuing to bypass chief marketers when they look for a new leader with board directors preferring executives with a finance background to run the company, according to a career mentor.

Sherilyn Shackell, founder and chief executive of UK-based mentoring business The Marketing Academy, said only “a handful” of CEO’s among the UK’s FTSE 100 companies have risen through the marketing ranks.

In an even more damning statistic on how chief marketers are regarded, only five CMOs sit on the board of FTSE 100 firms, she told the Australian Association of National Advertisers conference in Sydney yesterday.

“Marketing is the one function that has the customer at the heart of everything it does…..but CEO’s tend to come up through the finance route,” Shackell said.

Shackell, who described herself as a “fraud” as she comes from a recruitment background despite running a marketing organisation, was in Australia to launch the mentoring business in Australia.

Steve Jones


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