According to AdWeek, CMOs with agency backgrounds (code for Brand-ing folks? As opposed to real Brand Managers) are being replaced by those with a broader career experience across several disciplines. Folks at the top want CMOs that can actually drive change down into the operational organization and quantify the results of their work. That’s what a Product or Brand Manager, in the original meaning of these phrases, would do.
Sounds like a good idea to me. The source for all this press commentary is here.