Allstate’s CMO to Retire
Steve’s breakdown: The search is on for a replacement but we don’t have the job description like we usually do. Anyway, her relation with the Leo Burnett was a strong & long one so who knows what might happen when the new chief arrives.
NORTHBROOK, IL: Allstate insurance will say goodbye to longtime chief marketing executive Lisa Cochrane next month. Cochrane said she is retiring.
The search has begun for her successor.
In recent years Cochrane wielded considerable power over Allstate’s (NYSE: ALL) marketing efforts, which were closely tied to Leo Burnett Chicago, the insurance company’s ad agency of record dating back to the 1950s.
As is the case when any chief marketer exits a company, it’s impossible to predict how Cochrane’s departure will impact Allstate’s longstanding relationship with Burnett.
Cochrane was known to have been close to Susan Credle, Burnett’s chief creative officer. So depending on who is selected to fill Cochrane’s role at Allstate, Burnett executives are likely to have to start from scratch to develop relationships with her successor.
Still, Cochrane will be remembered most for the introduction of the “Mayhem” ad campaign and for making actor Dennis Haysbert a very familiar face and voice in Allstate advertising.
TV viewers had only to see and hear Haysbert in many Allstate commercials, and they knew instantly they were in good hands, Allstate’s longstanding tagline.
As for the “Mayhem” series of commercials which personified the horrible things that can unexpectedly happen in life, the concept may have been a bit dark and disturbing to some. But it nonetheless was Allstate’s marketing concept to own, and it is a campaign that has lasted over several years.
In a memo to her staff, Cochrane said she doesn’t know yet what her next career move will be. Or at least she’s not saying publicly.