Product Marketing is an interesting role because it puts you at the intersection of so many different functions, allowing you to "run the business". Outside of CMO, a couple other logical steps I've seen PMMs take are Chief Revenue Officer (CRO) or General Manager (GM).
Chief Revenue Officer is the most interesting of the bunch because it puts you at the center of all revenue growth. Most of the time, you would find a sales leader occupying this role, but I have seen several with a strong product marketing background.
General Manager is perhaps the easiest to get into beause the ultimate job of the GM is to drive revenue by understanding the end customer and delivering a product and message that solves their problem or need. The important difference is that they must also must manage product development as well as influence sales GTM motions.