Good morning Some modern CFOs now look at Marketing as a growth center Rather than a cost center. Despite this way of thinking, marketing in many companies still takes a back seat, which are pressed through trade voltages, economic uncertainties and careful consumer expenditure.
New research of McKinsey Shows the developing role of the Chief Marketing Officer (CMO) and argues that a better orientation between CMO, CEO and CFO is the key to searching for new growth opportunities. However, reaching this orientation is easier said than done. If the accountability is unclear for the customer and everyone in the C-Suite is responsible for growth, often nobody is really really.
McKinsey’s Analysis of Fortune 500 Management teams based on publicly available data show an attentive trend: Companies with a single customer or growth-oriented manager such as CMO grow up to 2.3 times faster than companies with several roles that share these responsibilities.
But simply appointing a CMO is not enough. “Pull the CMO back into the middle, let it match the CFO and let everyone move in the same direction,” recommends McKinsey. Without clear property and support, even the most talented CMO can exploit their full potential.
Despite its strategic importance, marketing is often out of the edge. Accordingly Spencer StuartThe percentage of the Fortune -500 companies with CMO fell from 71% in 2023 to only 66% in 2024.
A challenge: CMOS often have difficulty conveying the value and costs of marketing with their financial colleagues. McKinsey states that the most successful marketing organizations use highly developed systems and agreed KPIs to demonstrate the financial effects of their investments. This data -controlled approach helps CFOs to get on board.
Retail is a sector in which this orientation is increasingly obvious. Ulta beauty CFO Paula Oyibo, for example, told me recently That the company’s partnership with Beyoncés Cécred Hair Care line as a natural fit – highlighting how marketing and partnerships can increase growth.
Similarly, Mandy Fields, CFO of eleven beauty, believes in the Power of cooperation Between finance and marketing. “They often disagree because finance marketing consider it as an edition,” she told me. “We chose a different approach to see marketing as a sales driver, and that has proven to be for us.” For the entire year 2024, eleven beauty delivered 28% turnover growth And an increase in adjusted EBITDA by 26%.
Kory Marchisotto, Chief Marketing Officer at Elf Beauty, told me recently She met and Fields from the first day: “We only knew that there was this common respect and admiration for the other’s career.”
As McKinsey puts it, C-Suite managers for growth strategies really have to view marketing as a strategic function.
Have a nice weekend. See you on Monday.
Sheryl Estrada
sheryl.estrada@fortune.com
Ranking
Fortune 500 -Power movements
Chris TurnerChief Financial and Franchise Officer for Yum! Brands Inc. (No. 491) was promoted to CEO on October 1st gymnast, effective, gymnast, will be successful The current chief executive officer David Gibbs, who informed the board of directors about his intention in retirement after 37 years. Gibbs will serve as a consultant by the end of 2026. Turner came to Yum! Brands in 2019 as CFO. Last year his position expanded to include the Chief Franchise Officer. Previously, Turner had leading roles at Pepsico, including SVP and General Manager as well as SVP of the transformation for the Frito-Lay North America business from Pepsico.
Every Friday morning the Weekly Fortune 500 Power Moves Columns Fortune 500 company C-Suite layers–See the latest edition.
More remarkable steps this week:
Marc D. classification was appointed SVP and CFO by Ciena Corporation (Nyse: Cien), a networking software provider, on August 1. Previously, he was also CFO and Chief Operating Officer of the data center and the artificial intelligence group from Intel and had other roles of leadership financing in various manufacturing and business units at Intel.
Tim Karaca was promoted to SVP and CFO Solar windsA provider of IT management software on June 16. Karaca worked as a group VP for strategic financial and investor relationships at Solarwinds for three years. Before he entered the company, he spent almost two decades in the technology industry and in Wall Street to work in high -ranking financial roles. His leadership experience includes senior roles at AIG, Microsoft and Bridgewater Associates.
James CookCFO of SEALY & CompanyA real estate investment and service company will officially retire after 24 years of service on June 30th. James Gilligan will leave Cook as a CFO, valid on June 16. Gilligan joins the company in April and brings an executive leadership background to real estate investments and private capital. Previously, he was a CFO and treasurer of Ackerland partners and previously worked at Equity International and Equity Group Investments.
Alice Heathcote was appointed CFO by Original energyA platform for renewable energy and decarbonization solution, immediately effective. Most recently, Heathcote served as CFO at Strata Clean Energy. Before that, she spent seven years at Contourglobal, a global independent power producer. During her tenure, she held several leadership roles, including SVP for financing and acquisitions, where she led the Conspourglobal IPO on the London stock exchange. It also served as a CFO of renewable division for almost four years.
Paul Joachimczyk was appointed CFO by Sonoco Products Company (NYSE: SON), a sustainable packaging provider, effective on June 30th. Joachimczyk was previously SVP, CFO and corporate secretary of the American Woodmark Corporation. Previously he was VP of Finance for Topbuild Corp. And held financial management positions with Stanley Black & Decker and General Electrics Health and Capital Markets.
Kevin McKenzie CFO was called by CFO von Ensora HealthA software and service provider. McKenzie joins pure healthcare at Ensora Health, where he worked as a CEO and CFO. Previously, he had leadership roles at Simplenexus, Processmap and Advancedmd, where he headed financial restructuring and operational integration for these SaaS companies.
Big deal
The survey of KitWorks “Ai Data Security and Compliance Risk” shows that KI government will remain with many companies. Only 17% of the respondents stated that their companies can automatically prevent employees from uploading confidential data to public AI tools. The other 83% rely on human measures – as with training sessions, audits, warning emails or guidelines – or nothing at all. According to the report. In the meantime, the investigation also showed that employees routinely insert customer records, financial data and secrets into chatt and similar AI services – often from personal devices that the company cannot even monitor.
The results are based on a survey, which is carried out with Centiment of 461 cyber security, IT, risk management and compliance experts.
Go deeper
Here are four Assets Weekend reads:
“Goldman Sachs says Trump’s expenditure plan will not prevent the public debt from making “not sustainable” highs”By Greg McKenna
“A 6 -billion dollar -Logistics -CEO attributes an ice taste to help him understand why customers need new innovation”By Amanda Rew
“David Zaslav will take a salary shortening after Warner Bros. Discovery has divided – with a great success of his bonus”By Chris Morris
“Here you can find out how much you need to see fitness gains, according to experts”By Ani Freedman
Oversighted
“We consider this autonomous chapter as one of the most important for Musk and Tesla in its history as a company.”
-WEDBUSH Securities -Analysts wrote in a Friday that special invitations from Elon Musks Tesla assumed this morning and selected Tesla users provided permission to use the Model Y Robotaxi service in Austin from Sunday.
