Presence and Prospects of CMOs in Japanese Corporations:

How Do CMOs Contribute to Performance?

Abstract

The objective of this study is to explore how CMOs influence corporate performance in Japan. Recent research reports have shown that CMOs play positive roles in American corporations. However, this kind of analysis has yet to be performed for Japanese corporations. An empirical analysis showed that CMOs do contribute to the performance of Japanese corporations in terms of sales growth ratio in three consecutive years. An online literature review of recent developments associated with CMOs showed that CGOs (chief growth officers) have started to replace CMOs in US consumer goods corporations during the 2010’s. These results are interpreted based on interviews with four Japanese CMOs. We propose a hypothetical causal model as a basis for further research.