CMO Moves November Summary

The theme of “Power Moves” continues in the second half of November.

The unexpected departure of powerhouse CEOs at Intel, Stellantis, and Subway have once again underscored the importance of strong leadership—and the far-reaching consequences when it falters.

November ended with 26 new global CMOs announced (at companies of 200+ employees), including 14 women and 12 men. Only 5 among these were internal promotions, while a striking 21 were external hires, indicating a strong market for job-aspirants but a sad state of affairs for talent management practices, impacting those trying to climb the ladder in their own organization. 15 of these marketing leaders are stepping into the C-suite for the very first time, and reflects broad support and confidence in new blood vs battle tested board operators.

In the U.S., California led the charge with 6 new CMO announcements, followed by New York with 4, Texas with 3, and Washington and Massachusetts with 2 each. Internationally, Europe remained a hotspot, with appointments in the UK (2), Germany (1), and the Netherlands (1). Australia and India each saw one CMO announcement as well.

From an industry perspective, Software Development took the lead with 5 new CMO appointments, closely followed by Food & Beverage Services with 4. Altogether, these appointments spanned 15 distinct industries, reflecting the diverse and evolving demands of modern marketing leadership:

•  Software Development: 5

• Food and Beverage Services: 4

•  IT Services and IT Consulting: 2

• Restaurants: 2

• Banking: 2

•  Hospitality: 2

• Financial Services: 1

• Entertainment Providers: 1

• Broadcast Media Production and Distribution: 1

• Chemical Manufacturing: 1

• Retail: 1

•  Consumer Services: 1

• Technology, Information and Media: 1

• Law Practice: 1

• Media Production: 1

The CMO Role: A Game of Musical Chairs?

It’s hard to ignore the accelerating turnover in CMO positions across industries. Earlier this month, we reported on the appointment of a new CMO at Chobani. Now, just weeks later, AdWeek has revealed that Intuit has tapped Chobani’s former CMO, Thomas Ranese, as its new Marketing Chief. Notably, Ranese’s stint at Chobani lasted a brief eight months—a pattern that reflects a larger trend of high turnover in top marketing roles.

Intuit itself hasn’t been immune to this volatility. Before its previous CMO, Lara Hood Balazs, announced her departure in May, QuickBooks' former CMO, Lauren Weinberg, exited after only four months, heading to Peloton. In another swift move, Peloton’s CMO, Leslie Berland, transitioned to Verizon after a mere 12 months. It feels less like strategic succession and more like a high-stakes game of musical chairs—except instead of a seat, it’s a shot at rebranding and innovation. Keeping up yet? 😊

As economic shifts, evolving brand priorities, and fluctuating consumer behaviors reshape the marketing, the top job remains as dynamic—and precarious—as ever. For our readers at CMO Ladder, it’s a reminder that longevity in the C-suite is often elusive. Many CMOs find themselves in a relay race, passing the baton before they can see their strategies come to fruition.

Intuit

Thomas Ranese, a seasoned executive with experience at Google, Uber, and Chobani, will now lead marketing, corporate communications, and sponsorship at Intuit. He steps into the shoes of Lara Hood Balazs, who had championed Intuit’s ambitious “branded house strategy” before announcing her departure in May. This strategy aimed to elevate the Intuit name alongside its iconic brands, TurboTax and QuickBooks—a complex pivot Ranese is poised to take forward.

In an intriguing development, Adobe announced yesterday that Balazs has joined as Chief Marketing Officer and Executive Vice President of Global Marketing, reporting directly to CEO Shantanu Narayen. We’ll dive deeper into this story in our upcoming December edition.

Ranese’s multifaceted background—spanning consumer goods, technology, consulting, and investment—positions him well for the challenges ahead. From his brief tenure at Chobani to his three-year run as Uber’s global CMO, and advisory roles at KKR and McKinsey, he has worn many hats.

Insight: Taligence have definitely seen a bias towards this type of versatility and exposure across roughly half of our retained assignments for marketeers in the latter half of the year. The other half have been requirements for unicorn talents who have stuck to a single niche, company stage or industry for a long time. It’s split right down the middle.

For Ranese, Intuit’s integrated brand strategy offers an opportunity to make a deeper mark—if he can navigate potential upheaval and changes wrought upon Intuit’s business by the new government administration.

And as he steps into the CMO role at Intuit, another recent senior alumnus from their marketing team steps towards…

Dave

On November 21, FinTech Dave announced the appointment of Kevin Frisch as Chief Marketing Officer, effective immediately. Frisch will oversee every facet of the company’s marketing strategy, including brand development, content, product marketing, customer acquisition, cross-selling, retention, and go-to-market execution.

From a shareholder’s POV, Dave is riding an impressive wave of momentum. The company’s stock has surged an eye-popping 140% in the last month, bolstered by record-breaking third-quarter results, glowing analyst coverage, and optimism surrounding deregulation promises under the Trump era. With this bullish outlook, Dave’s decision to invest heavily in marketing is hardly surprising.

Frisch brings a wealth of experience in consumer-facing FinTech, most notably from his tenure at Intuit—a company that, unlike Dave, finds itself in a more subdued position amidst economic uncertainty. For Frisch, stepping into this trendy Neobank comes with its own unique challenges and opportunities.

Dave has cemented itself as a major player in U.S. financial services, offering everything from cash advances to full-service checking accounts. Yet, its reputation remains tethered to its cash advance product - a service that has recently come under fire from the FTC for allegedly deceptive advertising practices.

Frisch’s challenge will be to pivot the narrative. By addressing fee transparency directly and shining a light on Dave’s broader suite of offerings, he has an opportunity to elevate the brand, rebuild consumer trust, and chart a course for sustainable growth.

In a LinkedIn post, Frisch expressed his excitement about joining Dave, saying

Aisera

Aisera, a leading provider of AI solutions for enterprises, has announced the appointment of Kashif Mahbub as Chief Marketing Officer. With more than two decades of experience in enterprise software marketing and deep expertise in AI and automation, Mahbub is stepping in to lead the company’s global marketing efforts during a period of growth.

Mahbub brings an impressive track record to the role. Most recently, he served as CMO at Ushur, an AI-driven customer experience platform, where he built the marketing and sales functions from the ground up, contributing to a staggering 20x revenue growth. Prior to that, he was VP of Product Marketing at Automation Anywhere, where he launched critical marketing programs that helped propel the company to a $6.8 billion valuation, firmly establishing Robotic Process Automation (RPA) as a recognized industry category.

With strong financial backing, including a Series D round led by Goldman Sachs, and recognition in the 2024 Gartner® Magic Quadrant™, Aisera is well-positioned for success. However, the company faces fierce competition from enterprise AI heavyweights, including industry titans like ServiceNow.

So, does this mean there’s an empty CMO seat at Mahbub’s prior employer?

As of now, there is no public information indicating that Ushur has appointed a new Chief Marketing Officer (CMO) to replace Kashif Mahbub. Recent leadership additions include Anthony Smolek as Chief Financial Officer in June 2024 and Mike Price as Chief Revenue Officer in July 2024. However, no announcements have been made regarding the CMO position.

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