EY’s Andrea Guerzoni:CEOs embrace volatility as catalyst for growth

By InstinctBusiness Sep 19, 20250

Global CEOs are transforming volatility into opportunity, according to Andrea Guerzoni, EY Global Vice Chair – Ernst & Young-Parthenon, as revealed in the latest EY CEO Outlook Survey.

The study highlights a strategic shift toward localization, regionalization, and collaborative partnerships, with CEOs demonstrating growing confidence in navigating an unpredictable economic and geopolitical landscape.

Guerzoni emphasized that today’s business leaders are not merely reacting to challenges but are leveraging them to drive transformation. “CEOs are recalibrating their approach to transactions, focusing on strategic partnerships that allow for agility and shared risk,” Guerzoni said. “The current environment demands a shift in mindset, where collaboration becomes essential for navigating uncertainty and driving growth.”

The survey’s CEO Confidence Index, which measures sentiment across various business dimensions, rose to 83, a seven-point increase from May 2025, signaling heightened optimism. Despite this, 57% of CEOs expect geopolitical and economic uncertainty to persist beyond the next 12 months, with 24% anticipating challenges lasting three years or more. However, only 19% believe regulatory unpredictability will significantly hinder their ambitions, reflecting resilience in strategic planning.

A key finding is the shift toward localization and regionalization, with 72% of CEOs viewing these as long-term strategies to enhance operational efficiency and agility. “This mindset is helping leaders seize opportunities and drive sustainable growth in an unpredictable environment,” Guerzoni noted.

Mergers and acquisitions (M&A) remain a priority, with 48% of CEOs planning traditional M&A deals in the next year. Additionally, 73% anticipate pursuing joint ventures or strategic alliances, favoring agile strategies that mitigate risk in a volatile market. The United States leads as the top destination for M&A, followed by Canada, the UK, India, and Germany, with 41% of CEOs targeting companies for their technology or intellectual property.

Sectors such as Oil & Gas, Insurance, and Health show the strongest M&A appetite, while Media & Entertainment, Banking, Metals & Mining, and Technology lean toward joint ventures and alliances. Guerzoni highlighted that technology is both a driver and a challenge, with 69% of CEOs citing cybersecurity threats as a barrier to innovation and 70% noting fragmented regulations as a hurdle to digital transformation.

Inflation and tariffs remain significant concerns, with 79% and 78% of CEOs, respectively, identifying them as operational headwinds. Despite these challenges, Guerzoni underscored that CEOs’ focus on localization, strategic transactions, and technology investments positions them to thrive. “As global CEOs adapt to today’s complexities, their proactive strategies are setting the stage for sustained growth,” he concluded.