Half of CEOs believe their business will fail in 10 years without reinvention, says PwC survey

CEOs are under pressure to make significant changes to ensure their organisations’ longevity.

by Éilis Cronin

Business leader confidence is fragile - 45% of CEOs do not believe their business will be viable in 10 years without some sort of reinvention, according to data from PwC’s latest Annual Global CEO Survey. This is an increase from 39% in 2023.

Smaller companies are at greater risk; 56% of CEOs leading businesses generating less than $100m in annual revenue believe their businesses will only be viable for 10 years or less if it continues running on its current path. This falls to 27% for those making $25bn or more in revenue annually.

CEOs expect more pressure over the next three years, the survey suggests, particularly from “megatrends” such as technology and climate change. Four in 10 CEOs report that they have accepted lower returns for more climate-friendly investments and 70% expect generative AI to “significantly change” the way their business creates value in the next three years. CEOs are even less confident in their own company’s ability to grow revenue over the next 12 months - 37% down from 42% in 2023.

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