Latest news with #SpencerStuart
Business Wire
6 days ago
- Business
- Business Wire
CFP Board Announces Search for Next CEO, Engages Spencer Stuart
WASHINGTON--(BUSINESS WIRE)--CFP Board today announced that it has retained executive recruitment firm Spencer Stuart to assist in the search for its next Chief Executive Officer. The search follows the February announcement of CFP Board CEO Kevin R. Keller's planned April 2026 retirement and reflects CFP Board's commitment to a deliberate, strategic transition. 'The Board of Directors is approaching this transition with a clear plan, and we are excited to partner with Spencer Stuart in this important search,' said CFP Board Chair Liz Miller, CFP®, CFA®. Share The Board of Directors began preparing for this transition early in 2025, forming a CEO Search Committee led by 2025 Chair-Elect Terri Kallsen, CFP®. This thoughtful planning allows ample time to conduct a thorough search and engage a broad range of stakeholders. 'The Board of Directors is approaching this transition with a clear plan, and we are excited to partner with Spencer Stuart in this important search,' said CFP Board Chair Liz Miller, CFP®, CFA®. The search begins immediately. 'We're looking for an innovative leader who will not only drive our strategic initiatives forward but also embody the core values of our organization — integrity, commitment to the profession and a focus on the public interest,' said Kallsen. CFP Board invites highly qualified candidates to apply. This process will involve thorough outreach to leaders within the association and financial planning communities to help ensure a broad, well-qualified candidate pool. For inquiries or further information, contact the following at Spencer Stuart: Leslie Hortum (lhortum@ and Sarah Burley Reid (sburleyreid@ ABOUT CFP BOARD CFP Board is the professional body for personal financial planners in the U.S. CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public's benefit. CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNER® certification — widely recognized by the public, advisors and firms as the standard for financial planners — so that the public has access to the benefits of competent and ethical financial planning. CFP® certification is held by more than 100,000 people in the U.S. CFP Board Center for Financial Planning addresses diversity and workforce development challenges and conducts and publishes research that adds to the financial planning profession's body of knowledge. ABOUT SPENCER STUART Spencer Stuart is a global executive search and leadership advisory firm that works with organizations to help them find and develop the leaders they need to succeed in a complex and rapidly changing world.
Yahoo
6 days ago
- Business
- Yahoo
CFP Board Announces Search for Next CEO, Engages Spencer Stuart
WASHINGTON, July 24, 2025--(BUSINESS WIRE)--CFP Board today announced that it has retained executive recruitment firm Spencer Stuart to assist in the search for its next Chief Executive Officer. The search follows the February announcement of CFP Board CEO Kevin R. Keller's planned April 2026 retirement and reflects CFP Board's commitment to a deliberate, strategic transition. The Board of Directors began preparing for this transition early in 2025, forming a CEO Search Committee led by 2025 Chair-Elect Terri Kallsen, CFP®. This thoughtful planning allows ample time to conduct a thorough search and engage a broad range of stakeholders. "The Board of Directors is approaching this transition with a clear plan, and we are excited to partner with Spencer Stuart in this important search," said CFP Board Chair Liz Miller, CFP®, CFA®. The search begins immediately. "We're looking for an innovative leader who will not only drive our strategic initiatives forward but also embody the core values of our organization — integrity, commitment to the profession and a focus on the public interest," said Kallsen. CFP Board invites highly qualified candidates to apply. This process will involve thorough outreach to leaders within the association and financial planning communities to help ensure a broad, well-qualified candidate pool. For inquiries or further information, contact the following at Spencer Stuart: Leslie Hortum (lhortum@ and Sarah Burley Reid (sburleyreid@ ABOUT CFP BOARD CFP Board is the professional body for personal financial planners in the U.S. CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public's benefit. CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNER® certification — widely recognized by the public, advisors and firms as the standard for financial planners — so that the public has access to the benefits of competent and ethical financial planning. CFP® certification is held by more than 100,000 people in the U.S. CFP Board Center for Financial Planning addresses diversity and workforce development challenges and conducts and publishes research that adds to the financial planning profession's body of knowledge. ABOUT SPENCER STUART Spencer Stuart is a global executive search and leadership advisory firm that works with organizations to help them find and develop the leaders they need to succeed in a complex and rapidly changing world. View source version on Contacts Mary Ellen Dingley, Manager of Public Relations, P: 770-361-0111,E: media@ Sign in to access your portfolio
Forbes
16-07-2025
- Business
- Forbes
The CMO's Guide To Getting A Seat At The Corporate Strategy Table
As uncertainty about the global economic situation has become a major theme over the last several years, some companies have forgotten about the central role that CMOs play in overall growth. A new paper from McKinsey illustrates an example seen in many boardrooms: The CMO tells their company's executive team about a successful campaign, but then the CFO follows up with news that sales are declining. The apparent disconnect between the two positions causes confusion and spurs the CEO to start looking for new areas for growth. As McKinsey writes, executives who are focused on other priorities are overlooking the relationship between the CMO, the customer and business growth. Many CMOs told McKinsey in a survey they have limited input on strategy, while there's no agreement between different executives on what measurements equal marketing success. And CMOs—or singular marketing leaders by other titles—are on the decline. Only two-thirds of Fortune 500 companies had CMOs in 2024, according to Spencer Stuart research cited by McKinsey, a 5% decline from 2023. With the rise of omnichannel marketing and business, some companies have added a suite of digital officers to work on marketing, further complicating basic corporate strategy. And in just two years, the number of CEOs who say marketing is clearly defined and understood by their company's corporate leadership fell by 20%. In order to get CMOs back in the driver's seat, the McKinsey report suggests they rebuild relationships and collaborate with other executives. They should work with CEOs to come to common ground about what they do, why it is important, and what needs to be achieved. The value of what CMOs bring to the table, which is often key data about customers and the market in general, needs to be understood by CEOs. But CMOs also need to forge tight bonds with CFOs, coming into alignment about how to track success and how marketing numbers feed into the finances that are important to the company. This kind of relationship not only establishes clear accountability for the marketing department, but builds deeper trust in marketing throughout the organization. While McKinsey's study is looking at larger trends, some CMOs have been successfully inserting themselves into corporate strategy and reaping the rewards. I talked to Beth LaGuardia Cooper, CMO of Advantage Media, about how CMOs can help steer a company's direction. An excerpt from our conversation is later in this newsletter. The Elon Musk-owned xAI Grok chatbot has had an active and controversial week. Jaap Arriens/NurPhoto via Getty Images It's been a memorable week for Elon Musk's X, and considering the social network's infamous history under the world's richest person, that's really saying something. Last Tuesday, the Grok chatbot, powered by Musk's xAI, started responding to users as the antisemitic persona 'MechaHitler.' The bot claimed it had been programmed that way from the start, and seemingly praised Hitler and referred to Israel as 'that clingy ex still whining about the Holocaust.' Musk responded in a series of posts, saying that the chatbot was 'too compliant to user prompts' and 'too eager to be manipulated,' adding that the issue was 'being addressed.' But just a day later, X CEO Linda Yaccarino announced she was stepping down from her leadership post at the platform. Yaccarino, a former advertising leader at NBCUniversal, did not give a reason for her departure in her announcement, and no interim leader for the platform appears to have been named. Yaccarino had pushed to expand advertising on X, but it was a perpetually difficult job. In late 2023, many advertisers left the platform, citing a new prevalence of antisemitic and hateful content on users' feeds, as well as Musk's personal endorsement of an antisemitic post. Because X is part of a private company, advertising and user revenues are not publicly reported, though Yaccarino said at the beginning of 2025 that 96% of its top advertisers had come back. While Grok's MechaHitler AI persona went away, antisemitic posts on X didn't stop. Over the weekend, a hacker breached the X account of beloved Sesame Street muppet Elmo, posting antisemitic slurs and calling for violence against Jews. Sesame Workshop has since said the account was back under its control, and the objectionable messages had been deleted. In the midst of the MechaHitler controversy, Musk announced that he'd upgraded Grok to a new version he claimed was 'smarter than almost all graduate students.' He admitted that the chatbot might lack 'common sense,' but said it's also coming to Tesla vehicles in the near future. A Tesla info page says the chatbot will not be used for navigation or vehicle controls, appearing to be more about providing conversation and information. Users can 'choose Grok's voice and personality, ranging from Storyteller to Unhinged, to enhance convenience while you're on the go,' Tesla says. ATTENTION ECONOMY "Love Island USA" cast members at the "Love Island: Beyond the Villa Event." Randy Shropshire/Peacock via Getty Images Streaming accounted for nearly half of all U.S. television viewership in June, according to Nielsen figures. The 46% of TV use directed to streaming last month is a 5.4% increase over May. Streaming has been steadily growing, but June's spike can largely be attributed to two platforms: Netflix, which reported a 13.5% increase from the previous month, and Peacock, which posted a 13.4% increase. Original programming likely drove the growth. Netflix released new seasons of comedy/drama hit Ginny & Georgia and South Korean drama Squid Game , plus began streaming acquired series Animal Kingdom and Blindspot . Peacock, meanwhile, featured the wildly popular reality show Love Island . Streaming will likely continue to dominate as networks find new ways to build engagement. The most recent season of Love Island also launched an interactive mobile app featuring quizzes and games, which NBCUniversal claims has been responsible for the show's skyrocketing viewership. Meanwhile, Netflix's original movie KPop Demon Hunters features an animated K-pop girl group that slays evil fans—and its soundtrack has been a real-world hit, with multiple songs reaching top positions on the U.S. Spotify charts, writes Forbes contributor Lily Ogburn. Forbes senior contributor Paul Tassi calls the double whammy of high viewership numbers and hit songs impressive. And popular properties, especially for children's shows, have continued to perform well. According to Nielsen, Australian cartoon Bluey , which chronicles a fun family of dogs and is streamed on Disney+, was the most viewed streaming show in the first half of 2025, with more than 25 billion minutes watched so far this year. NOW TRENDING Luxury brands may see more sales declines if they don't refocus their strategies. getty It's been a difficult year for luxury brands, with many companies reporting declining sales and an outside report projecting another 5% drop in sales in 2025. Forbes senior contributor Pamela Danziger writes that a new report from BCG and Altagamma shows that many luxury brands in recent years have worked to make themselves more accessible to new—and perhaps less affluent—customers, which has eroded some of the soul of the luxury segment. While broadening accessibility may have paid off in the past, it's heralding financial difficulty going forward. Aspirational customers are more likely to pull back on luxury spending as the economy becomes more uncertain—35% have definitively directed luxury spending elsewhere—and brands with at least half of their customers in this classification are seeing the steepest declines. The report recommends that luxury brands refocus on their top tier consumers, who will still have the ability to buy regardless of what happens next in the economy, recalibrating their level of intimacy and connection with these consumers. That also includes enhancing the online experience. Forbes Research found that 51% of high-end consumers prefer a hybrid approach to luxury shopping: browsing online, but completing the purchase in person. ON MESSAGE How CMOs Can Shape Larger Corporate Strategy Advantage Media CMO Beth LaGuardia Cooper. Advantage Media, Getty Sometimes, marketing strategy feels completely different from the larger corporate strategy, even though marketers have a unique perspective on the business and consumer. I talked to Beth LaGuardia Cooper, CMO of thought leadership marketing company Advantage Media, about why CMOs' input on corporate strategy is important to success. This conversation has been edited for length, continuity and clarity. Advantage Media is the publisher of Forbes Books, which is a separate business unit and not associated with Forbes editorial staff. How can a CMO surface ideas that can help with devising a larger corporate strategy from their unique perspective of being CMO? LaGuardia Cooper: One area of focus is consumer sentiment, consumer behavior. What's going on with the consumer in terms of the things they're facing that are motivating them and keeping them up at night, and how does that align with what we're offering? Thinking about bringing the consumer into the conversation and being forward leaning. A marketer could have a marketing [or] customer advisory board, or the general customer research that is at their fingertips to bring to the table. And the third-party research that they're normally coming across as part of the job. Every conversation everywhere is AI. It's been something that's [been] second hand to the performance marketing side of the business for a long time. Working on ad platforms and all of those arenas, giving us the opportunity for personalization at scale, and seeing the value of taking that further with the use of AI has been naturally a part of our business, not feeling like something that threatens us, which could be the case with some disciplines. A third would be we have a test-and-learn mindset. That's just what the job is. You're never really done. Thinking innovatively about not just what are the big things that leapfrog the organization—which is what the CMO needs to think about—but all the levers that unlock optimization: Let's test this and refine it, rinse and repeat. That's [the] more campaign-oriented mindset that can be brought to an innovative arena. CMOs have been a key part of the strategic team for the last several years, but how willing are other members of the executive team to listen to what the CMO says and to take it to heart? It depends a lot on [the] people who are in those roles, how oriented they are to marketing, experience and the customer in their background, and how central they see that. Coming from a pure functional perspective, what talks is stories and quantitative analysis. I want to tell a story with the data. Sometimes, that's best brought to life with a video of customers talking, or showing an experience visually in terms of where the drop-off is happening in a funnel, and comparing it to a prior period or trends that make the point in a very visual way. I don't find that a lot of C-suite members have a lot of tolerance for any of the deeper-in-the-woods marketing data at the level that we are hungry for, and often look just to find those nuggets. Keeping the story at a higher level and focusing on the outcomes for the business in an ROI [and] quantitative fashion is always the best. I also think having a plan that has a contained analysis around both the opportunity and the opportunity cost of not doing something is often helpful. Maybe [also creating a] risk analysis that outlines when you create a milestone [or] plan for deciding if you want to keep moving forward with something or cut the investment off. That feels less risky to a CFO, in particular. Bringing [other executives] into decisions that are not necessarily their area [is also helpful]. Taking into account feedback from a CFO about the creative concept of an ad campaign might not be as valuable as somebody else—but at the same time, they feel like they have a stake in it, an opportunity to weigh in, and it also feels less risky and out of their league. How have you shaped strategy from the CMO's seat? I look for early themes and also lagging points. We're connecting those dots on the front end and [sharing] what we're seeing and expecting as we move into the future periods. I do think it's our responsibility to make sure that we're looking beyond and saying, 'This is where we are right now. Here's some warning signs that we're seeing. Here's what we're doing to mitigate those or think beyond those,' and determine what not only we need to be solving for, but [also] how to take advantage of this opportunity in a different way because we're seeing it before our competitors. The opportunity when you're sitting at that table is not just to respond to what other people are seeing, but to present new themes that somebody else might not yet be seeing: why you think they're important, what impact they could have on the business from a bottom line if we do or don't do anything about them, and discussion that I think is not just about a marketing mindset, but about business. What do we as a business strategically see as the opportunity here? Is it worth making some decisions around that, and maybe shifting investment or doing something differently that has material impact in some way? I also think it's good not to be afraid to be the first person to say: 'Here's where I think we can trim.' Often, a marketer is making the case for more money or investment in certain areas. And a lot of times those investments need to not be in our area. They need to be on tech or another group that is fueling what we do. That is another way to really get together with your peers on a regular basis, understand what their challenges are, and float some ideas to think about working together. I think the budgets of a lot of other teams are more labor intensive or fixed, and a lot of times the significant portion of the marketing budget is variable advertising spend. Sometimes, there is opportunity to adjust and not feel like you're giving something away in a controlled environment as a team member. COMINGS + GOINGS AI firm Anthropic hired Paul Smith as its first chief commercial officer, effective later this year. Smith will join the firm after working in leadership at ServiceNow, Salesforce and Microsoft. hired as its first chief commercial officer, effective later this year. Smith will join the firm after working in leadership at ServiceNow, Salesforce and Microsoft. Technology services provider Persistent Systems appointed Shimona Chadha as chief marketing officer, effective July 3. Chadha most recently worked as vice president and head of North America vertical marketing at HCLTech. appointed as chief marketing officer, effective July 3. Chadha most recently worked as vice president and head of North America vertical marketing at HCLTech. Convenience retail company the Wills Group tapped Matt Simon as its chief marketing officer, effective June 30. Simon previously worked in the same role at Penn Foster Group. STRATEGIES + ADVICE While your company might have its own cybersecurity staff, as the hack of Elmo's X account shows, cybersecurity to protect brand integrity is everybody's business. Here are some basic tips that you can use to safeguard your brand's online presence. Every business is an AI company nowadays. Here are some strategies collected from Forbes contributors about how you can make sure the technology is being implemented to its fullest potential at your company. QUIZ Amazon's Prime Day sales event last week surpassed all records for the online giant. According to Adobe, how much was tallied in online U.S. sales at the mega-retailer? A. $24.1 billion B. $24.8 billion C. $26.2 billion D. $26.9 billion See if you got the answer right here.
The Australian
07-07-2025
- Business
- The Australian
Why the CFO to CEO journey starts from within
The path from chief financial officer to chief executive is increasingly well trodden. In 2024, Spencer Stuart research found almost one in five ASX 100 CEOs transitioned directly from a CFO role, with an even larger share holding a meaningful finance role at some point in their careers. The evolving role of the CFO has no doubt smoothed the pathway: many have transformed from financial gatekeepers to strategic partners and transformation leads. As for the disparity between direct and indirect transitions, it can likely be attributed to what's told to many CFOs aspiring to become a CEO: get operational experience, take on some stretch goals, round yourself out. This advice can be valuable, or even necessary, but it's partly borne out of entrenched perceptions of CFOs that persist regardless of whether they are true of the individual. For example, a company's board may be predisposed to think of CFOs for their financial acumen, decisiveness and exposure to the board, while also believing they are risk averse, uncomfortable with abstraction and less capable of articulating a vision. Justly or not, CFOs must assume they face these perceptions in order to successfully transition to CEO. It's not just about being ready for the role, but being perceived as ready. Such a journey can't just be framed as a matter of accumulating new skills and experience without understanding and expanding one's mindset. The journey should be much more personal than formulaic. Just as the role of CFO has evolved over time, so too has the role of the CEO. The world is increasingly volatile, and boards rely on the CEO to respond quickly and intuitively to challenges as they arise, from complex acquisitions to PR crises. Tharani Jegatheeswaran is Client Relationships and CEO Program Leader at Deloitte Australia Stephen Tarling is CFO Program Co-Leader at Deloitte Australia They aren't expected to have all the answers, and in fact, trying to do so can become a liability. It's a common pitfall for those who feel most comfortable using data to explain what's already happened, not trusting their gut to navigate an uncertain future. A quote often attributed to McGill University professor Henry Mintzberg sums it up well: 'When the world is predictable, you need smart people. When the world is unpredictable, you need adaptable people.' It's for this reason that CFOs can't expect to thrive as CEO without examining – and if necessary, being willing to let go of – the mental tools that have served them well so far in their career. To achieve this, aspiring CEOs must peel back the layers of technical expertise to examine the person underneath. What mindset may limit you when facing an unfamiliar challenge? What may you be holding on to too tightly? This process of self-reflection can be unsettling, and it takes significant motivation. But for many Australian CFOs, it's key to taking the leap and landing on two feet. For example, a CFO may take on a technology-driven transformation to earn their stripes beyond finance and prove they have the know-how to handle a variety of organisational challenges. But unless they are willing to truly confront their default mindset – and the needs, fears, assumptions and beliefs that underpin it – the experience is unlikely to nurture true growth. The challenge for CFOs in this position is not just to learn how to detach from this internal bias, and choose a different path when necessary, but also to make this process second nature. An effective CEO is aware of their automatic response to an unexpected situation, and can quickly and intuitively assess whether it's the right approach. To put it another way, it's not enough to spend time outside your comfort zone. You must expand it – along with your emotional range and self-awareness. Looking inward isn't about looking for flaws, striving for perfection or reinforcing a sense of impostor syndrome. It's an exercise in building awareness of what makes you the leader you are today and the leader you want to become. This level of deep introspection can be humbling and uncomfortable. But learning to sit with it – and, crucially, learn from and act on it – is an invaluable opportunity for growth. To create time and space for this process, some CFOs focus on building a finance function they can trust to manage the finer details while they step into more strategic development and decision-making. Some even appoint a deputy CFO, which doubles as a development pathway for promising talent. Detail, accuracy and delivery are important factors of leadership. But being in the top job can be ambiguous, relational and political. Treating it as a next step, or another promotion in the climb, threatens to oversimplify the internal transformation that's often the key to becoming and thriving as a CEO. Tharani Jegatheeswaran is Client Relationships and CEO Program Leader at Deloitte Australia and Stephen Tarling is CFO Program Co-Leader at Deloitte Australia. - Disclaimer This publication contains general information only and Deloitte is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your business. Before making any decision or taking any action that may affect your business, you should consult a qualified professional adviser. Deloitte shall not be responsible for any loss sustained by any person who relies on this publication. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ('DTTL'), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. Please see to learn more. Copyright © 2025 Deloitte Development LLC. All rights reserved. -
Axios
26-06-2025
- Business
- Axios
Communicators and marketers battle for the brand
There's a push-pull between creating cultural relevance and avoiding corporate risk, and that tension was on display last week at Cannes Lions. Why it matters: Those two concepts are often at odds and add to the strained relations between marketing and communications. State of play: Throughout the week, I was having two very different conversations with communicators and marketers. While CMOs were focused on grabbing attention with creative — and expensive — partnerships, CCOs were talking about staying under the radar to avoid stakeholder backlash and potential reputational exposure. In short, CMOs want breakthrough, while CCOs want cover. By the numbers: CEOs, for the most part, seem to be more aligned with the CCO train of thought. A new McKinsey & Co. study found that marketing and other parts of the business are increasingly disconnected, and only 31% of CMOs believe their CEOs are comfortable with modern marketing strategies. CMOs are also losing ground at the decision-making table. Forrester Research found that only 63% of Fortune 500 companies have a marketing leader who sits on the leadership team and reports directly to the CEO. Meanwhile, the number of CMOs at Fortune 500 companies is down from 71% in 2023 to 66% in 2024, per Spencer Stuart. What they're saying: Heightened political polarization, economic instability, AI advancements and cultural tension have made this moment more complex than ever, Weber Shandwick global president Jim O'Leary said at an Axios event in Cannes. It's the battle between "cultural relevancy and cultural resilience," he said. "And I think that it's been a challenge for some companies to navigate that complexity." But it has led to brands being more purposeful and less performative, by tying their brand campaigns to action or back to the business, as opposed to just capitalizing on a marketing moment, he added. Between the lines: At the heart of it, communicators and corporate affairs professionals are wary that one shallow marketing campaign could do years of reputational harm. Look no further than Bud Light and Target, which were still top of mind for many in attendance last week. "I think that for a long time, people were convinced that trust was the only thing that really mattered with reputation, that it was almost a binary — are you trusted or not trusted? And of course, for anyone sitting inside of a company or a brand, you know that there are a multitude a multitude of levers that make up reputation," said Burson global CEO Corey duBrowa. "It's not just what you say, it's what you do, and how that ties to values," he added. What to watch: The shifting organizational structures of communication and marketing teams, and which function truly owns "brand." "What's exciting about this moment as communicators is we're finally seeing a true opportunity to try to integrate brand strategy with reputation strategy, with marketing and anything that is more enterprise wide strategy," said Chris Foster, CEO of Omnicom Public Relations Group.
