Latest news with #C-Suite
Business Insider
7 hours ago
- Business
- Business Insider
Uncertainty is the new norm, says EY boss Janet Truncale. She's advising clients to rely on 'muscle memory' to get through.
Uncertain times are here to stay, according to the head of the Big Four firm EY. "Uncertainty is going to be the norm. It's going to be there for some time," Janet Truncale, EY's global chair and CEO, told Bloomberg TV in an interview on Wednesday. Business leaders are facing change and tough decisions on all fronts, from quickfire tariff policies and stock market swings, to how to implement AI and handle generational shifts in the job market. Truncale said that "confidence has been up and down in the C-Suite for the last year" and that technology, AI, and tariffs are all topics that entrepreneurs are talking about. Her advice for entrepreneurs and clients is to "stay the course and remember that muscle memory." Entrepreneurs should "go back to what you know and make sure that you don't go it alone," she added. "We've been talking to a lot of entrepreneurs who got to this point of their business without taking outside capital, without outside advice. And I think it's really important in our strategy and for all our customers, you don't need to go it alone," Truncale said. As businesses confront a new era of American trade policy, many are turning to consulting firms like EY for strategies to adapt to the rapidly changing regulatory landscape. The CEO added that in today's uncertain environment, EY's clients were focusing on transformation, growth, the customer, and cost cutting. As global chair and CEO of EY, Truncale is responsible for leading 400,000 employees and overseeing a global network that with revenue of over $50 billion last year. EY has faced its share of uncertainty in recent years. In April 2023, EY made headlines after a bid to split the firm's consulting and audit lines under the previous CEO, Carmine Di Sibio, fell apart amid infighting. EY has also been hit by the wider industry slowdown in demand for consulting services. EY's global annual revenue growth fell by 10 points in its 2024 financial year — the business grew by 3.9% compared to 14.2% in 2023. Truncale has pushed some major strategic changes since she took over as CEO in July 2024, almost one year ago. They include plans to merge EY's existing geographical regions into 10 superregions and the expansion of the EY-Parthenon brand to represent the entire EY strategy and transactions service line.
Forbes
5 days ago
- Business
- Forbes
AI Is Reshaping The Work Faster Than Companies Can Upskill
AI workforce preparation and upskilling within enterprises to increase adoption Work is no longer changing incrementally—it's evolving exponentially. The tectonic shifts being driven by artificial intelligence, automation, and multi-model transformation aren't projections for the distant future; they're the current reality unfolding in real time and we're all experiencing the impact at different speeds. According to a McKinsey Global Institute report, up to 45% of work activities could be automated by 2030. While this statistic might induce anxiety for the masses, it misses a nuanced truth: roles are not simply disappearing; they are also being redefined. As a former C-Suite exec in the Data, Analytics, Robotics, and AI Space, I've witnessed firsthand that the most impactful transformations aren't about replacing people with machines—they're about elevating human potential. AI isn't just about algorithms and automation; it's about adaptation, agility, and amplifying human potential. And while the pace of change is faster than what most people and enterprises can keep up with, the clear winners will be those that lead the future of work with AI, and prepare people to thrive alongside it. The transformation of AI isn't just technical; it's also organizational. If you take the use cases of predictive restocking algorithms, dynamic pricing tools, or warehouse robotics, behind the technology also comes the work that goes into preparing and upskilling the workers: In these cases, AI didn't reduce the workforce, it redefined their roles. In this juncture, licensing AI software or tools is not a strategy, it's a checkbox. Companies that are serious about the future of work know that AI implementation without workforce enablement is an empty investment. A 2024 IBM Institute for Business Value study supports this. It found that companies actively investing in AI training and upskilling see 15% higher productivity gains compared to those that don't. So what does real AI readiness look like? Outlined below are recommendations for forward-thinking companies, leaders, and individuals making the leap: Yes, the workplace is transforming at breakneck speed because of AI, and the future won't be built by those who use AI, but will be led by those who partner with it. As you reflect on your organization's AI journey, or your personal one, ask yourself not just what tech are we buying, but what transformation are we enabling? Because in the end, it's not about replacing jobs—it's about redesigning them. And those who master that redesign will lead the future of work.
Forbes
7 days ago
- Business
- Forbes
Learning Leadership And The Power Of Smart Networking
. It's been said that learning and innovation go hand in hand. It's arrogant to assume that what you did yesterday will automatically be sufficient for tomorrow. That perspective was echoed by futurist Alvin Toffler who said the illiterate of the 21st century won't be those who can't read and write, 'but those who cannot learn, unlearn, and relearn.' Ken Banta certainly embraces that view. He's founder and CEO of the Vanguard Network, an organization that helps senior executives build high-performance teams while taking their own leadership to higher levels. An expert in leadership and change, Banta has aided numerous global turnarounds, mergers, and transformations for the likes of Pharmacia and Bausch & Lomb. His new book is Seeing Around Corners: C-Suite Wisdom from America's Most Insightful Leaders. The book is rich with quotes by some of today's top executives on subjects ranging from culture, communication and crisis management to cyber security, board relations, life-work balance and much more. Ken Banta It's often said that the best leaders are the best learners. What daily practices seem to be most helpful to advance that learning? 'The best top leaders know they have the most to learn from people on the frontlines—in sales, making things, inventing things,' Banta says. 'This is because these people are most in touch with current reality and with future trends. So, one great daily practice is to spend 15 minutes gaining those insights, whether by asking ChatGPT or trading emails with frontline contacts in your organization.' Every organization has its own culture, including 'unwritten rules.' What's the best way to make those unwritten rules explicit and ensure that none of them poses a threat to the wellbeing of the organization or its people? Banta says it can be hard to make unwritten rules explicit because people often feel they gain power and influence by keeping the rules unspoken. 'For example, knowing the unwritten rule that no one sits at the head of the conference table except the manager of the unit gives people who know that rule an edge over those who don't and sit there unknowingly. One of the best ways to make negative unwritten rules explicit—and potentially shut them down—is for the most senior person in the group or organization literally to call those rules out in meetings and communications, giving specific examples (such as the conference table rule) and explaining why the rule is counterproductive.' Feedback, as the saying goes, is the breakfast of champions. How can leaders make it comfortable for people to give them unvarnished feedback? It's very important, Banta says, to put people at ease. 'Show that you will respect what they say, and make it a genuine dialogue.' He tells of being in Japan with a CEO. 'Everyone said the sales people would be petrified in a meeting with us and have nothing to say. But we began by taking off our jackets and inviting the eight sales reps to do the same. Then we took seats in the middle of the table instead of at the ends. We began by talking about our families. Then we said that this group knew more than anyone in the company about our customers and what we should do better for them. After that it was hard to bring an end to the discussion.' That was clearly good modeling of the desired 'rules of engagement.' What other in-the-moment practices can help leaders improve their listening skills? 'The ability to really listen is more than a skill,' Banta says. 'It's a psychological state. Individuals who combine a high ego level with high insecurities will likely be very self-absorbed and poor listeners. Individuals with high levels of emotional intelligence find listening much easier.' . Banta says one practice for better listening is stepping back to see yourself as others see you so you can understand what gets in the way of listening. Delegation, it's been said, is the key to executive sanity. It's also a critical ingredient in developing team members. So, what's the key to effective delegation? 'While I'm not always a good delegator, I know what I should do more of,' Banta says. 'One insight is to realize that there are many ways to deliver a good result. Recognize that someone else can do the job very well—albeit differently than you would do it. Another insight is to internalize 'the wisdom of the crowd.' Delegating important tasks to small teams instead of handling them yourself is not only efficient, you will gain new ways of thinking and operating that can be better than yours.' Trust, of course, is the operating system of every good relationship and every high-performing team. Banta shares his views on the behaviors that are most important in earning and maintaining trust. 'It's vital to differentiate between assuming trust is granted, and actually earning it,' he says. 'People don't grant you trust just because of your role. You personally must behave in ways that earn their trust. You do this by acting on what they say and being consistent about things like goals and performance expectations.' Banta says trust is eroded when a leader 'blames others, becomes unavailable, and acts erratically. By contrast, avoiding blame games, staying close to the team, and staying calm and focused in a crisis will earn you huge reservoirs of trust.'
Yahoo
27-05-2025
- Business
- Yahoo
From Your Fridge to the Pharmacy, how Tariffs Could Disrupt It All
Aptar is a US-based global manufacturer of consumer dispensing packaging and drug delivery devices with manufacturing operations in 18 countries. The company makes packaging for everyday products like Kraft-Heinz Ketchup and Lysol air fresheners. Stephan Tanda, Aptar Group President & CEO joined the C-Suite on Bloomberg Open Interest to talk about how he's positioning his company as tariff tensions ebb and flow. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
27-05-2025
- Business
- CNBC
Best Stock: A former high flyer that's coming back into favor because of improving fundamentals
(This is The Best Stocks in the Market , brought to you by Josh Brown and Sean Russo of Ritholtz Wealth Management.) Josh: This week we saw a few new names hit the Best Stocks in the Market list, including a former high-flier that's now come back into favor. Remember the Snowflake (SNOW) IPO? It was a big deal. At the time it came public in September 2020, investors were clamoring for cloud computing stocks and the whole tech sector was red hot. SNOW debuted with the largest IPO in history, raising $3.36 billion. And, if you can believe it, the stock turned out to have been underpriced. Shares were sold to the public at $120, but ultimately got as high as $300 on the first day of trading. The company had a valuation of $75 billion right out of the gate, a multiple of approximately 75 times its projected full-year revenues. Fun fact — it's the first time I can remember seeing Berkshire Hathaway on the holders list of a hot new issue (Warren Buffett's firm sold its whole position out a long time ago). If you thought that was the top, you hadn't seen anything yet. By Thanksgiving the following year, Snowflake hit its all-time high of $401.89 per share. That was the top of the post-pandemic tech rally. From there, a collapse of over 70% to an all-time low of $107 in September 2024. Shareholders who had held from the IPO for the next four years were now looking at unrealized losses after all that volatility. But then a funny thing happened. The CEO stepped back and took the chairman's role while promoting internally to bring the company's head of AI into the C-Suite and onto the board of directors. The company put together a few quarters in a row of 25% growth and has begun surprising The Street to the upside. Sean's going to share some more of the details below. This is a stock that's still 50% below its all-time high, but is now a double off of the lows and climbing. In my experience, institutions don't mind paying up for a growth company as the story improves. Snowflake's biggest drawback for most professionals has been its long and winding path to full-year profitability. Best stocks stats As of 5/27/2025 morning, there are 106 names on The Best Stocks in the Market list. Top sector ranking: Top 5 Best Stocks by Relative Strength: New addition: Snowflake Sean: SNOW was added to our Best Stocks in the Market list last week following a great earnings report. SNOW is classified as "IT Services" below, but software and software-related names are the strongest stocks in the market right now: The IGV (iShares Expanded Tech-Software Sector ETF) is up 2% in total return YTD and up 20% the past year, nearly doubling the performance of the Nasdaq 100 over the past year. Snowflake is a cloud-based data platform that enables organizations to store, manage, and analyze large volumes of data seamlessly across multiple cloud environments. You can't do anything useful in AI if your data isn't clean, organized and unified. Snowflake helps companies optimize their data for machine learning, model-training and other stuff. SNOW went public in September of 2020, right before we experienced the largest tech bubble since the dot-com implosion in 2001. It's had a difficult couple of years if you look at the chart since its inception: As a trader, it's not the prettiest chart. But if it can maintain support around the $190 level, which has been an important level of resistance for the stock going back to 2022, there's some room for the bulls to push this higher. Looking at the chart below since inception, on a weekly basis the stock has been in a down trend, but after this latest earnings beat, both moving averages are beginning to flatten, showing possible support for an uptrend: As an investor, the stock has not been rewarding, but the fundamentals are improving. During last week's earnings call, SNOW beat on the top and bottom lines, with revenue growing 4%, EBIT (earnings before interest and taxes, also known as operating earnings) growing 74%, and EPS growing 13%, all YoY. (Data via Quartr.) SNOW now has 606 companies paying them over $1 million dollars in revenue each, a figure which is up 27% year over year. Gross margins have expanded from 59% in 2021 to 67% today, bringing the company closer to its profitability goals. SNOW's net revenue retention rate hit 124% for the quarter, which is a great sign. A net revenue retention rate of 124% means that, on average, a company's existing customers are spending 24% more, even after accounting for customer churn, downgrades, cancellations, etc. In simpler terms, if you started the year with customers paying $100, by the end of that year, the same group is paying you $124 without adding any new customers. It means existing customers are growing in value to the business. SNOW is not profitable on an operating basis, but with the growth and scale they are achieving, profitability on an operating and net income basis is on the horizon, which would mean higher stock prices with it. Risk Management Josh: Below, I'm zooming in on the last 100 days or so because SNOW has run right back up to its February highs. It's just had a parabolic move higher after reporting great results. Ideally if I'm a trader, I'm waiting for an entry on a low volume pullback into the 190s. I'd use $175 - $180 as my line in the sand. That area should hold as support. If it doesn't, the setup didn't work. Longer-term investors can give it a wider berth and let the flat-lining 200-day (now at $160) turn up a bit. I'd be using that as a stop, checking it on a weekly closing basis each Friday. I was going to end this by saying "Stay Frosty" but then I'd have to slam my own fingers in a desk drawer just to distract from the cringe. And nobody wants that. Good luck out there, Sean and I will return later in the week. DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. 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