- CMO Ladder
- Posts
- CMO Moves Mid June Update
CMO Moves Mid June Update
Ft. Lowe's, Smashburger, and DXC Technology
Michael Wright
June 20, 2024
For many marketers, June is the season of sunshine and free flow of rosé in the south of France, where the world of advertising gathers to celebrate excellence in creativity.
As we eagerly await the unveiling of this year’s Cannes Lions, 13 new CMOs, including 10 women and 3 men, were announced in the first half of the month. Of these, 3 CMOs were promoted internally, while 10 were external hires. Notably, 8 of these marketing leaders are stepping into the role for the first time, marking significant career milestones.
Industries with the most CMO hires include Software Development (3), IT Services and Consulting (3), Retail (2), and Media and Entertainment (2). Geographically, California led the way with 3 new CMOs, followed by New York with 2.
Lowe’s
It's been a tumultuous time for most retailers lately as they reconcile with a post-pandemic slowdown and a more cost-conscious and digitally savvy consumer. Interest rates are to blame for a slowdown in the housing market and consumers are less likely to drop dollars on home improvements, evidenced by falling sales at Lowes in 2023 vs the previous year and a cautious outlook for the rest of this year.
Lowes has their sights set on driving consumer loyalty with the appointment of Jennifer Wilson, who has been promoted more than 13 times in her 18 years with the company and is credited for the successful launch of MyLowe's Rewards loyalty program and Lowe's retail media network.
Her promotion comes amid a major restructuring, which includes integrating the marketing wing with the merchandising unit, setting up specialized teams for experience integration and data-driven marketing, and changing the agency partner for media from Publicis Starcom to Publicis Spark Foundry.
Talk about keeping it in family. That’s a coup for Publicis. I know from my time at WPP that it’s the dream scenario to lose, but also win a client without ceding it to the competition.
"Jen's extensive marketing, merchandising and home improvement experience positions her well for this expanded role. She’s consistently moving Lowe's forward, as recently demonstrated by the successful launch of our MyLowe's Rewards loyalty program and Lowe's retail media network. Jen brings a data-driven approach and is helping us develop a deeper understanding of the customer."
"I am humbled and excited for the opportunity to continue elevating this great brand by leading a talented team of people who are customer and data-obsessed. Working together with the exceptional talent across the business, our goal is to continue to unlock value for our customers while delivering business results for Lowe's."
Smashburger
The famous coffee chain Starbucks caused quite a storm in a teacup earlier in the year when they promoted their CMO, Brady Brewer, to the CEO role. Some hand-wringing journalists thought this signaled the end of the CMO role, but several subsequent promotions from CMO to CEO or President roles at other companies since March underline the strength of belief in the operators at the top of the marketing ladder.
And companies are quick to pick up Starbucks talent. Following the appointment of Starbucks veteran Denise Nelsen as the company’s very first female CEO, Smashburger hired another Starbucks alum Thomas Prather as their Chief Marketing Officer, as the brand looks to expand globally. In Prather’s new role, he will lead brand positioning and growth, as well as ensure consistent messaging across channels.
"We are delighted to welcome Thomas Prather as Smashburger's CMO and are confident that he will be an invaluable addition to our team. Having previously worked alongside Thomas, I know his consistency, attention to detail, and ability to stay current on emerging trends and consumer expectations will help us deliver on our commitment to exceeding guest expectations."
Founded in 2007 in Denver, Colorado, Smashburger operates 235 corporate and franchise restaurants in 32 states and 6 countries and is owned by Philippine-based quick-service operator Jollibee Foods Corporation.
DXC Technology
You may never have heard of DXC Technology, and frankly, neither had we. They are a global IT Services and Consulting business with over 80,000 employees formed in 2017 when HP Enterprise spun off its services division and merged it with another vendor, CSC.
DXC Technology just named former IBM executive Kaveri Camire its global SVP & CMO. Camire had been with IBM for 20 years. In her global role at IBM, she oversaw marketing and communications for its hybrid cloud and AI offerings, which are both opportunity areas for DXC.
DXC has faced challenges since its formation in 2017. Revenues are down as more businesses transition to the cloud, and the share price has dropped by a third in the last year. Interim President and CEO Raul Fernandez, who assumed permanent leadership in February, now looks to Camire to help turn the company's fortunes around. There are also rumors of a potential acquisition bid involving Kyndryl Holdings, another IT services provider and an IBM spinoff, together with a private equity firm.
"As we continue our transformation journey, enhancing our brand positioning is critically important to accelerate our growth. Kaveri brings unparalleled expertise and knowledge in marketing and communications. Her strategic vision, coupled with extensive understanding of global markets and experience executing at scale makes Kaveri a perfect fit. She will be instrumental in elevating our narrative and storytelling efforts with a focus on helping solve customer problems and bringing innovative solutions to the market. We are thrilled to have Kaveri join the DXC team."
Will Kaveri Camire's expertise be the catalyst for DXC Technology's resurgence? We can’t wait to find out!
Our paid subscribers get to access the list of all CMOs announced thus far this month + 130 CMOs announced earlier this year + 214 CMOs appointed in 2023.
Ciao!
Subscribe to Premium to read the rest.
Become a paying subscriber of Premium to get access to this post and other subscriber-only content.
Already a paying subscriber? Sign In.
A subscription gets you:
- • Access to all the movers in a downloadable format
- • Hand picked curated listings of $200K jobs in marketing
- • No annoying ads