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When and How Board Members with Marketing Experience Facilitate Firm Growth

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Board members with marketing experience are positively associated with firm revenue growth.

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When and How Board Members with Marketing Experience Facilitate Firm Growth

  1. 1. From: Whitler, Krause, and Lehmann 2018 When and how Board members with marketing experience help companies?
  2. 2. From:From: Fortune 1000 Board seats Whitler, Krause, and Lehmann 2018 Active Marketers=38 (less than 0.5%)
  3. 3. From:From: S&P 1500 Board Bios Whitler, Krause, and Lehmann 2018 Only 2.6% of 64,086 members had any marketing experience between 2007 and 2012
  4. 4. From:From:  Debate:  Do the boards have it right and does board-level marketing experience not matter for firm performance?  Or can marketing experience in the board-of-directors function to help the firm?  How might marketing experienced board members help?  Prioritize firm growth as a strategic objective  Contribute expertise to improve the effectiveness of revenue growth strategies Does Board member marketing experience matter? Whitler, Krause, and Lehmann 2018
  5. 5. From:From:  Examined the biographies of directors for all firms on the S&P 1500 companies from 2007-2012, reflecting a sample of 12,106 directors.  Found less than 3% of directors have marketing backgrounds and 16% of boards that have one such member.  Results indicate that having a marketing expert on the board was positively associated with revenue growth (5.8 percentage points higher than companies that didn’t have a marketer on the board). Study and result
  6. 6. From: The common practice of not including experienced marketers on boards of directors puts firms at a competitive disadvantage.

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