Good morning.
A recession is now almost universally anticipated among business leaders. A recent KPMG poll of CEOs found 91% believe it will hit in the next 12 months, and only 34% think it will be mild and short.
But just how should businesses prepare for that widely-predicted downturn? That remains a subject of debate. As the bottom line shrinks, it’s natural to assume companies will cut back spending on things like digital transformation or ESG initiatives. And indeed, the KPMG survey found 59% of CEOs say they plan to “pause” or “reconsider” their ESG plans over the next six months.
Yet I keep finding myself in conversations with forward-leaning CEOs who insist it is times like the present that test their mettle. They believe continued investment, both in digital transformation and in sustainability, will be critical to their long-term success. And those who can find a way to keep investment up, even in the face of a downturn, will win the future.
How exactly do you do that? That’s a question I plan to ask numerous leading CEOs over the course of the next two weeks. On Tuesday, I’ll be at Oracle’s user conference in Las Vegas, talking onstage with Deloitte CEO Joe Ucuzoglu. Then I’ll head to San Francisco, where Fortune’s Michal Lev-Ram will interview Nvidia CEO Jensen Huang at our West Coast Fortune Global Forum dinner. Two days later, I’ll be interviewing JPMorgan CEO Jamie Dimon at the East Coast version of the same event.
I’m also eager to hear from CEO Daily...
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