This article is for Chief Marketing Officers (CMO) considering the Chief Executive Officer (...
This article is for Chief Marketing Officers (CMO) considering the Chief Executive Officer (CEO) role as their next role.
On Thursday, 19th September 2024, our Executive Search team hosted our latest event for CMOs considering their next career move. With over 100 Marketing Leaders in attendance, Rowan Fisk spoke to three leading CEOs about how they transitioned from CMO to CEO. We heard from:
Keep reading for key takeaways from their conversation, including:
The Chief Executive Officer (CEO) role is the most senior executive in a business. Found in most companies - public, private and not-for-profit organisations - the CEO is considered the face of the business.
Marketing Leaders have several roles available to them after the CMO job title. To help narrow the choice, we’ve explored different titles in previous events, including the Non-Executive Director and Operating Partner roles.
Rowan kicked off the morning’s conversation by asking what prompted each of our speakers to pursue the CEO role. What about the position appealed to them and why they ultimately decided it was the right route for their career.
Jo has had an extensive career across advertising and marketing. Beginning and progressing her career in agencies, Jo then moved client-side as the UK Marketing Director at McDonalds.
Having led and grown marketing for a variety of brands, Jo found she was particularly interested in other stakeholders’ agendas. She believes that removing siloed thinking can really move a business forward. As CEO, she can leverage her varied experiences to do the same.
James began his career in a graduate scheme at Centrica. A formative role, where he learned the importance of strong leadership skills. Throughout his career, James has taken on a variety of opportunities across the marketing department. This has allowed him to learn what he truly enjoyed about marketing leadership.
It was as the Commercial and Marketing Director at Direct Line Group that he learned the difference between leading the marketing team and sitting on the board. James found that he enjoyed the impact he had on the business as a member of the board.
Steve always had the ambition to become CEO. A natural leader and decision-maker, he felt a natural inclination to drive things forward and make strategic decisions. He pursued various roles outside of marketing to prepare himself for a CEO position.
Aspect | CMO Role | CEO Role |
| Responsibility | Focused on marketing initiatives, branding, and customer engagement. | Oversees the entire business, including finance, operations, and strategy. |
| Decision-Making Authority | Limited to marketing strategies and campaigns. | Holds ultimate decision-making power across all business functions. |
| Financial Acumen | Manages marketing budgets and ROI. | Responsible for P&L management and overall business profitability. |
| Stakeholder Management | Manages customer relationships and inter-departmental coordination. | Manages relationships with the board, investors, and entire leadership team. |
| Team Leadership and Development | Leads and develops the marketing team. | Leads the entire organisation, sets culture, and ensures strategic alignment. |
| Strategic Vision vs. Tactical Execution | Tactical focus on executing marketing campaigns. | Strategic focus on setting and executing the overall vision of the company. |
The Chief Marketing Officer role isn’t the traditional route to CEO. However, the pathway is more viable now than ever before. The roles and responsibilities of marketing have broadened over the years, effectively preparing marketers for the CEO role.
Ultimately, Marketing Leaders are responsible for the customer experience, voicing their challenges and needs to the company. As Steve says, “being able to understand customer needs and then meet them profitably, that's basically what the business is there to do.” This customer-centric mindset is certainly advantageous to reaching the CEO role.
So, how do you secure your first Chief Executive Officer job?
First, Jo suggests assessing whether the role is right for you. Take the time to understand what about your role as Chief Marketing Officer appeals to you. Is it the creativity? Is it leading the marketing function? Or is it collaborating with stakeholders and really getting behind the numbers?
Once you’ve decided that the CEO job is for you, Steve suggests taking a proactive approach. He told attendees, “Find out what the one thing that really matters to the business is, and then attach yourself to it.”
As a CEO, you are the face of the organisation. It's important to find a business that you really believe in and can represent effectively. As a result, our speakers strongly recommend doing your due diligence on any company you’re considering stepping into.
James strongly recommended asking lots of questions, particularly around two points:
Questioning is a key skill that all leaders must develop – and will over time. James’ best piece of advice for future CEOs is, “Hire really brilliant people and ask really good, quality questions to get the best out of them.”
Your network – both internal and external – is incredibly important to securing your first CEO role. As mentioned above, it's a good idea to position yourself within your current business to show you’re the natural choice for the Chief Executive Officer position.
Externally, it’s important to have headhunters from Executive Search firms in your network. They’re normally connected to Private Equity firms and can introduce you to companies who are looking for senior leadership support.
Network also plays a significant role in your self-belief. Jo asks everyone to think about “Who’s on your personal board?” When taking this step up, you might face your inner voices telling you it’s not possible. Your personal board are your cheerleaders that when you’re doubting yourself, they can pick you up again.
According to data from Statista, there were just 21 female CEOs at FTSE 100 and FTSE 250 companies in 2022. As a result, it’s no surprise that Jo shared that women must work harder for the role. Jo advises that women need to “really own your numbers and hold your ground” to overcome any unconscious bias.
While she believes that change is happening, it’s happening slowly. Historically, there has been some tension created by the belief that someone had to lose for others to win. Now, “allyship” is becoming a bigger part of the conversation.
This was echoed by our other panellists, with James stating that “Diversity isn’t just important in senior positions, it’s essential. It's no fun running a team that’s an echo chamber with the same backgrounds and the same opinions.”
We want to extend an enormous thank you to our panel of CEOs, Jo, James and Steve. We really appreciate your time and contributions.
If you’re a Marketing Leader and missed out on this event, be sure to connect with us on LinkedIn to find out about the latest 3Search Events. For support with your career progression, get in touch with our headhunters.
