CEOs' shock response to Brexit
I spoke to 4 FTSE 100 CEOs this morning, and sensed that the common theme post the Brexit vote was shock, disappointment, frustration, and a couple of them were angry about what has happened.
There were three overriding scenarios that the CEOs were envisioning.
Scenario 1: Most unlikely
They hope that Britain will find a way to agree with the EU a way forward, that there will be a minimum disruption and business will carry on as usual.
Scenario 2: Most probable
Brexit will create fundamental change, that it is probably going to damage economic prospects and that ultimately therefore, it will damage prospects for their companies. The CEOs are trying to work through this scenario.
Scenario 3: Doomsday prediction
The more ‘doomsday’ outlook, is that Europe on the back of Brexit, will fragment, resulting in massive uncertainty for their own businesses, and more generally.
As we’ve reached the afternoon, it’s become clear that most of the CEOs think it’s pointless to dwell on the decision, to start blaming, to find ways of redressing the decision. They all stressed that Mark Carney and the BoE, and Cameron need to stabilise the situation.The votes have been cast, and as Cameron said in his speech earlier, the majority of the British public’s views must be respected and listened to.
We’ve now got to accept what’s happened and find the appropriate ways of moving forward. What we face broadly, is massive leadership uncertainty, and a leadership challenge.
The better CEOs are doing two things:
- Reassuring their staff (particularly those that have come from other EU countries).
- Working through ways of ensuring that their business can adapt to the evolving Brexit situation as it develops.
If you’re a CEO, what do you think of Brexit? If you’re not, what do you think are the next steps for leaders in the UK and EU?
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By Steve Tappin
Chief Executive, Xinfu, Host BBC CEO Guru
Steve is a personal confidant to many of the world’s top CEOs. He is the host of the award winning BBC ‘CEO Guru’, which features in-depth, on-the-record interviews with the CEOs of the biggest and fastest-growing companies. Steve is the author of ‘The Secrets Of CEOs’, which interviews 200 CEOs on business life and leadership.
[1] https://realbusiness.co.uk/article/32976-the-business-survival-instinct-innovation-in-times-of-uncertainty-.
The British left the EU to the Germans to organize and take over. It is a risk that all of EU will be run from Berlin while the French are sorting out air traffic controller strikes. It will be a great time for British politicians to negotitate endlessly in Brussels to keep the benefits without paying. Most likely will the Germans introduce EU ID cards, free dental care, German beer bottle standard and extend the Autobahn thru Europe.
Founder at Berlin Tours, OET Europe, and CCB
8 年Ha well if your shocked that small buisiness wont get kicked around by ruels they didnt vote for and cant do anything to change
Manager Property Investiments DUBAI ? Founder ?????????????? ?????????????? ? ? 29+ anni di esperienza ? 11+ libri scritti ? 170.000+ persone formate ? 1 ??ACADEMY creata ? 2.400+ Feedback positivi avuti ?
8 年Look ..always higher! With courage. "I SAW MORE 'FAR FROM OTHER ..because 'I WAS ON THE SHOULDERS OF GIANTS! " (Isaac Newton) And 'This is the way of saying that every man and entrepreneur should impress upon their minds ..to face every challenge of life and Entrepreneurial. We know ..I am ..the difficult challenges. But dare one ..not if you can give by itself in a "particular" period like this. Looks ahead ..sii crowds ..desecrating ..iconoclast ..but always with a sense of respect, education and professional ethics! The ..this crisis knows ..there are ..there were ..and there will be ..! But are cyclical ..before or later pass! I do not have a magic wand, I would not presume to give recipes or substitutes sterile hopes, but I believe deeply that looking ahead, always, ..with eyes "disenchanted" the can is fair ..for everyone! And remember that WE kneel ..just of GOD on! Thanks for your attention and best wishes to you all ..from the wonderful Italy . Gianpaolo PAVONE ( Italian Writer & Corporate communications expert ) Read also THE COURAGE (Gianpaolo Pavone) here: https://urlin.it/13fdc3 .
Procurement & Contracts Manager at MEGT (Australia) Ltd
8 年If these ‘better’ CFOs were so angry, shocked, frustrated and disappointed by the UK's decision then they are low-level thinkers. I bet none of them know that there is not a single trade deal in place between the EU and China, India, Russia or even the USA..! You simply don’t need trade deals to trade and prosper with another country. Visit any shop in Britain and you’ll find goods from all over the world. Trade done by the Britain outside of the EU (which it is still a member of) grows at double the rate of any trade it has outside of it. The EU has been masquerading as a dynamic global trading hub but it has proven to be an ineffectual self-referral regulatory body managed by unelected, career bureaucrats, 10,000 (yes, ten thousand) of whom are paid more than David Cameron. FTSE executives would do better talking about the new opportunities available to them than participating in this baseless commercial bereavement...