CMO Moves Mid Jan Pulse

January is typically a slow season when it comes to new CMO hires. However, this year is proving to be an exception, with an impressive 16 CMO announcements in just the first two weeks.

The appointments are evenly split between 8 women and 8 men, reflecting a commendable balance. The Software Development and Financial Services industries lead in CMO hires, with 5 and 4 appointments, respectively. The majority of these hires are external, with only two being internal promotions. Additionally, many CMOs opt for hybrid (6) or fully remote (3) work setups.

Rocket Companies

Rocket Companies, the parent company of Rocket Mortgage, has appointed Jonathan Mildenhall as their inaugural Chief Marketing Officer.

A distinguished figure in advertising, Jonathan previously served as the first CMO of Airbnb, where he played a pivotal role in the company's rapid expansion from 400,000 homes to over 4.5 million residences across 191 countries in just 3.5 years. His notable achievements include leading breakthrough campaigns such as "Wall and Chain," "Never A Stranger," and "Live There." Before Airbnb, Jonathan contributed to Coca-Cola's global initiative "Open Happiness," supporting the company's fastest profit increase in two decades.

In 2018, Jonathan co-founded the branding and marketing consulting firm TwentyFirstCenturyBrand, working with clients like LinkedIn, PepsiCo, NextDoor, and Walmart.

With a stellar track record, including being named Creative Marketer of The Year by Cannes Lions International Festival of Creativity in 2013, and ranking 8th on Forbes' list of the world's most influential CMOs in 2017, Jonathan is all set for a new mission at Rocket.

Rocket faced challenges during the recent economic downturn, experiencing financial losses before bouncing back to profitability in the second quarter of 2023. In Q3, the company reported a net revenue of $1.203 billion and a GAAP net income of $115 million. While this was a decrease from the $139 million in Q2, it marked an improvement from the $96 million recorded in the same period of 2022. There was a rise in margins for the direct-to-consumer and TPO channels compared to the previous quarter.

In July 2023, Rocket appointed Fintech veteran Varun Krishna as their new CEO, with his official start date set in September, Jonathan is one of Varun's first senior hires.

Will Jonathan repeat a growth miracle similar to that of Airbnb? We are excited to find out!  

Princess Cruises

Princess Cruises, the second-largest cruise line in revenue globally, has named Jim Berra as their Chief Marketing Officer.

Jim brings nearly three decades of experience in the cruise and hospitality industry, having served in leadership roles at Invited, Royal Caribbean International, Carnival Cruise Line, and Starwood Hotels & Resorts.

The cruise industry faced significant challenges during the pandemic, with occupancy rates remaining around 75% in 2022. However, as of 2023, cruising is making a strong comeback, driven by factors such as high airfares, limited accommodations, and pent-up travel demand. Interest among younger generations who have never cruised is higher than ever, with 73 percent of millennials and Gen X travelers considering a cruise vacation, according to a survey conducted by Cruise Lines International Association. Even TikTok is capitalizing on the renewed interest in cruising as users track a nine-month “Ultimate World Cruise” on Royal Caribbean’s Serenade of the Seas.

Carnival Corporation, the operator of Princess Cruises, reported a record revenue of $21.6 billion for 2023, marking its first profitable year since the onset of the pandemic. Meanwhile, total occupancy for 2024 is already two-thirds booked.

With 14 new vessels set to launch in 2024 globally, the cruise industry is poised for mainstream resurgence. There will be an abundance of opportunities for marketing talents!

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