A study of Irish CEOs by KPMG has found that 64 per cent of business leaders believe the next three years will be more critical for their industry than the previous fifty, while more than one third expect their company to transform into an entirely different entity between now and 2019.
The findings are published in 'Now or Never', KPMG's Irish CEO Outlook for 2016 which shows that the pace, scale and scope of change faced by Irish CEOs is ever increasing. In addition to strategic and leadership skills, the ability to anticipate change and to shape an organisation has never been more important. The report comprises CEO perspectives from Ireland and around the world based on interviews of over 1800 leaders from 28 countries.
Commenting on the findings, Shaun Murphy, Managing Partner of KPMG in Ireland said: 'Our research set out to uncover insights from Irish CEOs about the forces and opportunities shaping the businesses they lead. The research shows that Irish CEOs, in keeping with their global peers, believe the companies they lead are likely to be significantly transformed in the medium term.
'As a result of this constant and increasing rate of change, Irish CEOs are reviewing strategies, focussing on skill sets and revaluating opportunities for alliances. They are doing so in an environment in which they are also relatively more optimistic about the outlook for both their business and their sector then they are about the Irish and world economies.'
The survey was conducted following the UK's referendum on EU membership and shows that Irish CEOs are divided in their view of the impact that Brexit will have on business confidence in the global economy:
CEO research conducted by KPMG in the UK highlights that a majority of UK CEOs are assessing the possibility of relocating their headquarters or operations outside the UK.
According to Shaun Murphy: 'Most CEOs I speak with, whilst concerned, are fairly pragmatic about Brexit simply because no one really knows what the ultimate outcome will be. The preferred result for Ireland is obviously maximum access and minimum disruption in terms of trade and freedom of movement.'
For more information, contact:
Communications Manager, KPMG Ireland
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About KPMG in Ireland
KPMG in Ireland employs 2,400 people across its audit, tax and advisory services from offices in Dublin, Belfast, Cork and Galway. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services.