The survey finds that an uncertain macroeconomic outlook and deglobalization are among the top issues on the minds of leading CEOs and investors as they plan for 2023. It also uncovers some of the steps corporate leaders are taking in the face of disruptive forces, including economic conditions, geopolitics, ESG, talent and innovation.
In areas of strong agreement, such as preparing for deglobalization and the approach to addressing disruptive social issues, companies can feel confident in staying the course. In areas where perspectives differ, such as investing in emerging technologies, the importance of China and qualifications for next-generation CEOs, companies may be advised to rethink their current positions.
The insights in this report are intended to help businesses understand what the market expects of them, highlight areas in which they can stay in front of investor expectations, and better prepare for the immediate and longer term. The stakes have never been higher.
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Macroeconomic Outlook
73% of leading CEOs expect worsening economic conditions in the first half of 2023. Investors, on the other hand, are generally optimistic, with 76% expecting conditions to improve.
CEOs from the Americas are less bearish on the economic outlook than their counterparts in the rest of the world.
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Deglobalization
86% of CEOs and investors believe that deglobalization is a reality for the global economy. Almost half believe that deglobalization is already underway and that it will be a significant event.
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Innovation
Investors expect CEOs to embrace investment in a wide range of disruptive technologies. However, CEOs are taking a more conservative approach, particularly when it comes to cryptocurrencies and the metaverse, where the vast majority of CEOs are staying on the sidelines.
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Disruption
Investors want companies to be more aggressive in managing risk exposure, specifically around supply chain, societal issues and capital market disruption.
CEOs cite external stakeholder pressure and access to actionable information as the top two challenges when leading through disruption.
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ESG
15% of CEOs are prioritizing investment in ESG over business performance, and more than 60% of CEOs and investors (especially in Asia and Europe) are working to balance company performance and ESG commitments.
Nearly one in five large-company CEOs believe they are not well prepared to respond to the next controversial social issue that emerges.
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People
Only 28% of CEOs indicate that their current executive teams represent the perspectives of future generations.
CEOs and investors have vastly different views on the skills and talents required of next-generation CEOs.
Methodology
Teneo’s Vision 2023 CEO and Investor Outlook Survey was conducted by the firm’s in-house data, insights and analytics team. The survey includes the views of more than 300 global CEOs and institutional investors representing approximately $3 trillion USD of company and portfolio value.
CEOs represent a global distribution of publicly traded companies with a minimum annual revenue of $1 billion USD or greater. Large companies are defined as $10 billion+ USD in annual revenue; mid-sized companies are defined as $1 billion USD - $9.99 billion USD in annual revenue.
Investors include a global sampling of professional investors in investment banking, institutional investing, venture investing, asset management, private equity and hedge funds.
The survey was conducted between November 9 and December 6, 2022.
Note: Some columns throughout the report may total to more than 100% due to rounding. Asia / MENA is a small sample size relative to other geographic regions.