Marketing leadership: Does the presence of chief marketing officer improve marketing performance?

Purpose This study aims to investigate the impact of chief marketing officers (CMOs) on firm marketing performance in the Chinese context. Drawing on upper echelons theory, it specifically examines how CMOs influence marketing outcomes through multiple mechanisms and how these effects vary across different ownership structures. Design/methodology/approach The study employs panel data from Chinese A-share listed companies in the wholesale and retail industry from 2012–2022. Multiple regression analyses are conducted to test the hypothesized relationships, with robustness checks using propensity score matching and instrumental variables approaches. The research examines both direct effects and mediating mechanisms while also investigating ownership structure as a key moderator. Findings Results reveal that CMO presence significantly enhances firm marketing performance. This relationship operates through two key mediating mechanisms: increased new product sales intensity and improved channel management efficiency. The positive impact of CMOs is found to be significantly stronger in non-state-owned enterprises compared to state-owned enterprises, highlighting the importance of institutional context in realizing CMO value creation. Practical implications The findings provide actionable insights for firms considering the establishment of CMO positions and for optimizing the value creation potential of existing CMO roles. They particularly highlight the importance of aligning organizational structure and governance mechanisms to fully leverage CMO capabilities. The results also offer guidance for policymakers regarding the professionalization of marketing management in state-owned enterprises. Originality/value This study makes several novel contributions to the literature on top management teams and marketing performance. First, it provides new empirical evidence on the value creation mechanisms of CMOs in an emerging market context. Second, it identifies and validates specific pathways through which CMOs enhance firm performance. Third, it reveals how institutional factors, particularly ownership structure, condition the effectiveness of CMO positions.