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Last week, Johnson & Johnson’s chief marketing officer decided to call it a day, stepping down from the company after roughly six years. As part of the announcement, J&J said that it’s restructuring its business model, essentially eliminating the role of the CMO.
The CPG/pharma company is just the latest large corporation to revamp the position, following the likes of Coca-Cola, Hyatt and Lyft over the last several years. Although the CMO is often the face of the company, systemic challenges can push the role into different territory; CMOs frequently have little agency at a company, as they typically neither generate revenue nor have a P&L.
And in an age when marketing has become a catchall for everything from campaigns to experiential to programmatic, companies are starting to look at the role, if not department, through different lenses.
Enter the chief growth officer, a hybrid role that’s part marketing, part sales, part product, part tech,...