CMO Moves December Summary

When it comes to jobs, 2024 was a year of recovery. It wasn’t just about new jobs being added - it was also about jobs being taken away. Check out the chart below from Layoffs.fyi, which tracks tech layoffs globally.

Now, look at the chart below showing the number of CMO moves we’ve tracked over the past two years. Notice how the tech layoff trend inversely mirrors the curve of new CMO hires.

Does this mean that CMO announcements could serve as a meaningful indicator of economic performance? 😊

2024 was a busy year for CMO movers, with 310 hires (corrected) made. That’s a substantial increase compared to 2023, when only 213 new CMOs were announced. 11 out of 12 months in 2024 saw a greater volume of CMO hires. And there were more than double the number of CMO’s hired through Q1, July and October.

Sadly, of the 311 CMO hires in 2024, only 16% were promoted to the role. In this edition, we will feature two notable promotions. Still, the stats clearly show if you want the top marketing seat, you’re better off looking outside. Which involves talking to, responding to, or connecting with executive recruiters - because a majority of CMO appointments are going to external candidates.

If you think my suggestion to network with recruiters is self-serving, you know it! But I’m not only talking about working with recruiters you might already know. I’m talking about networking with internal executive recruiters found in large, talent-forward organizations, holding companies, or PE/VC. For example, Andreesen Horowitz has 50+ people with the job title “Talent” working there now. You can also try boutique search firms that either know your industry well or specialize in marketing as a discipline (avoid the aloof, generalist SHREK firms).

Judging by the last 2 weeks, it’s never too late in the calendar year to land a CMO job!

December wrapped up with 29 new CMO appointments (corrected from 30), with 19 women and 11 men stepping into the role. Out of these, 6 were internal promotions, 24 came from outside the companies, and 17 are taking on their first-ever C-suite positions.

In the U.S., California led the way with 5 announcements, followed by New York with 4 and Texas with 2. There were also appointments in 6 other states.

Globally, Asia was buzzing with activity, as India, Bangladesh, Malaysia, and Japan all named new global CMOs. England and Ireland each added one as well.

When it comes to industries, Software Development took the top spot with 6 new CMOs, followed by Financial Services with 3. Telecom, Food and Beverage, and Banking each brought in 2. Altogether, the appointments are spread across 20 industries.

• Software Development: 6

• Financial Services: 3

• Telecommunications: 2

• Food and Beverage Services: 2

• Banking: 1 (corrected)

• Research Services: 1

•  Retail Luxury Goods and Jewelry: 1

•  Retail: 1

• Health, Wellness & Fitness: 1

•  Spectator Sports: 1

• Insurance: 1

•  Restaurants: 1

• IT Services and IT Consulting: 1

• Retail Apparel and Fashion: 1

• Food and Beverage Manufacturing: 1

• Construction: 1

• Motor Vehicle Manufacturing: 1

• Gambling Facilities and Casinos: 1

• Real Estate: 1

• Mental Health Care: 1

Major League Baseball (MLB)

At the tail end of a hot year of marketing leadership hires in Spectator Sports, the 8^th sporty 2024 CMO appointment, Major League Baseball (MLB) was announced. Uzma Rawn Dowler steps into the role of Chief Marketing Officer starting January 2025. She’ll report directly into Noah Garden, MLB’s Deputy Commissioner for Business and Media, and will spearhead the league’s global marketing strategy. Her focus will be on uniting efforts across MLB’s operations, revenue, and technology divisions and collaborating with the 30 clubs to enhance fan engagement, grow the sport, and attract new audiences.

Acclaimed marketer Rawn’s promotion comes as she celebrates a decade with MLB, most recently serving as SVP of Global Corporate Partnerships. In that role, she led initiatives to align the league with top-tier brands, a responsibility she will continue under Network President and EVP of Sponsorship Sales, Bill Morningstar.

She fills an empty seat vacated by Karin Timpone who had held the position for about 3.5 years.

MLB have a $10bn+ business, ahead of the NBA and NHL. Here’s how they made money in 2023.

Baseball had a pretty solid year in 2023. Record attendance: 70m+ fans attended the seasonal games. A revamped rule set emerged, reducing the duration of each game. There was a spike in Japan in viewership, and they established new streaming and betting partnerships. 2024 has some bright spots, too – According to a recent SponsorUnited Report, MLB sponsorship revenue has grown to nearly $1.9 billion in 2024, an increase of +23% over 2023.

But Rawn is stepping into a situation where there are a lot of system-level challenges for fan engagement with Baseball. Even with the cut-down average game time, it’s still two and a half hours.

And what about the Aging Fan Base? MLB's core demographic is aging rapidly, with younger generations gravitating toward faster-paced sports like basketball, soccer, and esports. The league’s average viewer age is over 57, a troubling statistic for long-term growth. To top all that, tensions between players and owners over revenue sharing and salary caps are simmering, and a collective bargaining push could alienate fans.

Whatever the challenges ahead for the new CMO, MLB is beefing up comms on all sides. In December, Oriana Korin was hired to a newly created role of Chief Communications Officer to “champion the rights of players and strengthen the voice of the membership”.

We love what she had to say in announcing the MLB role on Linkedin:

Etsy

Another promotion worth celebrating is Brad Minor, who moves from the Chief Brand Officer role to the Chief Marketing Officer role at Etsy. Brad inherits the role from Raina Moskowitz, who departed Etsy recently to become CEO of The Knot. Minor has driven key initiatives, including Etsy's gifting strategy and brand mission campaign, highlighting creativity, originality, and human connection. He will now join Etsy's executive team and report to Kruti Patel Goyal.

2024 hasn’t been smooth sailing for Etsy. Gross Merchandise Sales (GMS) in Q3 dropped 4.1% year-over-year to $2.92 billion, and net income fell $30.5 million from last year, coming in at $57.4 million. On top of that, Etsy’s stock is down 28% YOY, while the S&P 500 is up 24%. With inflation and economic uncertainty, shoppers have pulled back on spending, which has hit Etsy’s handmade and vintage goods especially hard.

To navigate these challenges, Etsy has made some leadership changes:

• Kruti Patel Goyal, who currently leads Etsy’s Depop subsidiary, is moving into a new role as President and Chief Growth Officer, overseeing key areas like Product, Marketing, and Strategy.

• Lanny Baker, formerly CFO and COO at Eventbrite, is coming on board as Chief Financial Officer.

• Rachana Kumar, the company’s CTO, is leaving but will stay on as an advisor for a while as Etsy looks for her replacement.

There were layoffs, too. The beginning of 2024 saw Etsy let go 11% of its workforce—about 225 employees.

These changes show that Etsy is trying to adjust to both economic pressures and shifts in how people shop online. As the new CMO, Minor has a lot on his plate. He’ll need to build on what makes Etsy stand out—creativity, originality, and that personal connection—while working with Goyal to push the company’s growth. His experience leading branding and gifting projects gives him a good start, but balancing the brand’s identity with plans to grow the business is a big challenge.

TimelyCare

In our last update of the year, we are delighted to report that TimelyCare, the leading virtual health and well-being provider for higher education, has excitedly announced Michelle Lanter Smith as its new Chief Marketing Officer. With a proven track record in driving brand innovation and revenue growth, Michelle brings a unique passion for health and well-being combined with a deep commitment to higher education. In this role, she will spearhead marketing strategies that expand TimelyCare’s reach, elevate its brand positioning, and further its mission of empowering student success through accessible virtual care solutions.

Michelle, a four-time CMO, brings extensive leadership experience in scaling marketing organizations and driving transformative growth. Her role as a Trustee at Elmhurst University has deepened her understanding of the challenges and opportunities in higher education, further fueling her passion for the space.

When asked what drew her to TimelyCare, Michelle shared that she personally identifies with the company’s mission to improve the health and well-being of college students. She views this role as a rare opportunity to align her professional expertise with her personal commitment to higher education and student well-being.

In her first 90 days, Michelle plans to focus on assessing TimelyCare’s demand generation capabilities and building out the company’s brand framework. A key priority will be defining the organization’s positioning and unique value propositions to differentiate it in the marketplace.

Reflecting on her own job search, Michelle highlights the importance of staying in front of recruiters and actively working the network. She believes that connections are often the best source of opportunities and encourages consistency and engagement. We can’t agree more!

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