Researchers determined that 62% of companies see their revenue growth rate decline or remain flat in the fiscal year following a Chief Revenue Officer change. The median rate of decline is nearly four percentage points, from an average 15.5% growth rate the year before the CRO switches out, to an average 11.7% growth rate the first full fiscal year after the CRO switches out. But standing pat may not always be an option. This article explains the implications of firing a CRO and what you should know before hiring a new one.
The average tenure of today’s chief revenue officer (CRO) is among the shortest in the C-suite, averaging just 25 months. For many companies, this duration doesn’t even equate to the duration of two sales cycles for their products.
