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The impact of boards of directors on chief marketing officer performance: Framing and research agenda
Firm leaders expect their chief marketing officers (CMOs) to have significant impact on firm performance, and boards of directors (boards) consider marketing-related issues critical board-level priorities. Despite the importance of marketers and marketing to firm outcomes, boards do not appear to value CMOs at the strategy-setting level of the firm as they rarely include CMOs in board discussions and deliberations. The disconnect between the importance of marketing and the marginalization of marketers at the board level prompts the following question: How and in what ways may boards impact CMO performance? This research includes two reviews of the extant literature (from 1984 through 2021): (1) board impact on CMOs, and (2) board impact on the satisfaction, performance, and outcomes of the broader top management team (TMT), including chief financial officers, chief information officers, chief operating officers, chief technology officers, and chief strategy officers. We find that only four articles investigate the impact of boards on any functional TMT member’s performance and that none specifically consider how the board may impact CMO satisfaction, performance, and outcomes. Given the lack of research, we create a conceptual framework that links board characteristics to CMO outcomes and develop a research agenda with over 50 questions as the basis to develop scholarship. Importantly, this research highlights the paucity of insight regarding board-level influence on any functional TMT member, including the CMO. Consequently, the model and research agenda can benefit multiple disciplines including marketing, finance, information technology, operations, management, and human resources.
Journal Article
A faint cold fear
An apparent student suicide has brought medical examiner Sara Linton to the local college campus, along with her ex-husband, police chief Jeffrey Tolliver. But a horribly mutilated corpse yields up few answers. And a suspicious rash of subsequent \"suicides\" suggests that a different kind of terror is stalking the youth of Heartsdale, Georgia--a nightmare that is coming to prey on Sara Linton's loved ones.
Book
CIO Reporting Structure, Strategic Positioning, and Firm Performance
Almost 30 years after the introduction of the CIO position, the ideal CIO reporting structure (whether the CIO should report to the CEO or the CFO) is yet to be identified. There is an intuitive assumption among some proponents of IT that the CIO should always report to the CEO to promote the importance of IT and the CIO's clout in the firm, while some adversaries of IT call for a CIO—CFO reporting structure to keep a tab on IT spending. However, we challenge these two ad hoc prescriptions by arguing that neither CIO reporting structure is necessarily optimal, and that the CIO reporting structure should not be used to gauge the strategic role of IT in the firm. First, extending the strategy—structure paradigm, we propose that a firm's strategic positioning (differentiation or cost leadership) should be a primary determinant of its CIO reporting structure. We hypothesize that differentiators are more likely to have their CIO report to the CEO in order to pursue IT initiatives that help the firm's differentiation strategy. We also hypothesize that cost leaders are more likely to have their CIO report to the CFO to lead IT initiatives to facilitate the firm's cost leadership strategy. Second, extending the alignment—fit view, we propose that firms that align their CIO reporting structure with their strategic positioning (specifically, differentiation with a CIO—CEO reporting structure and cost leadership with a CIO—CFO reporting structure) will have superior future performance. Longitudinal data from two periods (1990–1993 and 2006) support the proposed hypotheses, validating the relationship between a firm's strategic positioning and its CIO reporting structure, and also the positive impact of their alignment on firm performance. These results challenge the ad hoc prescriptions about the CIO reporting structure, demonstrating that a CIO—CEO reporting structure is only superior for differentiators and a CIO—CFO reporting structure is superior only for cost leaders. The CIO reporting structure must, therefore, be designed to align with the firm's strategic positioning, independent of whether IT plays a key strategic role in the firm.
Journal Article
Lgr5-expressing chief cells drive epithelial regeneration and cancer in the oxyntic stomach
The daily renewal of the corpus epithelium is fuelled by adult stem cells residing within tubular glands, but the identity of these stem cells remains controversial. Lgr5 marks homeostatic stem cells and ‘reserve’ stem cells in multiple tissues. Here, we report
Lgr5
expression in a subpopulation of chief cells in mouse and human corpus glands. Using a non-variegated
Lgr5-2A-CreERT2
mouse model, we show by lineage tracing that
Lgr5
-expressing chief cells do not behave as corpus stem cells during homeostasis, but are recruited to function as stem cells to effect epithelial renewal following injury by activating Wnt signalling. Ablation of Lgr5
+
cells severely impairs epithelial homeostasis in the corpus, indicating an essential role for these Lgr5
+
cells in maintaining the homeostatic stem cell pool. We additionally define Lgr5
+
chief cells as a major cell-of-origin of gastric cancer. These findings reveal clinically relevant insights into homeostasis, repair and cancer in the corpus.
Leushacke
et al.
provide insights into the role of Lgr5 cells in the oxyntic stomach, demonstrating that they label a subpopulation of chief cells that function as reserve stem cells during regeneration and cells-of-origin of gastric cancer.
Journal Article
The Resistance Man : a mystery of the French countryside
It's just another summer in St. Denis for Bruno, who must balance the constant barrage of demands on his time and expertise--including the complex affections of two powerful women, town politics (the mayor is having romantic problems of his own), his irrepressible puppy Balzac, and nights entertaining friends and visitors with ever-sumptuous repasts--with a new focus on a mounting crime wave, whose seemingly unrelated events Bruno begins to suspect are linked.
Book
A piece of my heart
\"Growing up in a troubled foster home, Mercy Dane knew she could never rely on anyone but herself. She's used to giving her all to people who don't give her a second glance, so when she races to Blessings, Georgia, to save the life of an accident victim, she's flabbergasted when the grateful town opens its arms to her. She never dreamed she'd ever find family or friends--or a man who looks at her as if she hung the stars\"--Amazon.com.
Book
CEO equity risk bearing and strategic risk taking
Research Summary We draw upon applied psychology literature to explore interagent differences in perceived risk to their equity when making strategic risk decisions. Our theory suggests behavioral agency's predicted negative relationship between equity risk bearing and strategic risk taking is contingent upon four personality traits. Our empirical analyses, based on personality profiles of 158 Chief Executive Officers (CEOs) of S&P 1,500 firms in manufacturing industries, indicate the relationship between executive risk bearing and strategic risk taking crosses from negative to positive for high extraversion, greater openness, and low conscientiousness. These findings demonstrate that agency based predictions of CEO risk taking in response to compensation—and board attempts at creating incentive alignment using compensation—are enhanced by integrating insights from personality trait literature. Managerial Summary We study the effect of CEO personality on their behavioral responses to stock option pay. Our findings reveal that CEOs that score high on extraversion or openness and low on conscientiousness are less likely to decrease their firm's strategic risk taking as the value of their stock options increases. That is, the tendency of CEOs to become more risk averse in their strategic choices as their option wealth increases (due to loss aversion) is weaker for highly extraverted and more open CEOs, but stronger for more conscientiousness CEOs. Overall, our findings suggest that board of directors need to consider personality traits of their CEOs when designing compensation packages with the intention to align incentives of CEOs with shareholder risk preferences.
Journal Article