That is the line PwC chose for its 29th Annual CEO Survey. 4,454 CEOs. 95 countries. And denial is winning 🚨
5 statistics I cannot get out of my head:
1️⃣ 56% of CEOs say their company has seen NEITHER higher revenues NOR lower costs from AI. Only 12% report both. The AI investment cycle most CEOs will not admit on an earnings call. Hundreds of billions spent. Majority cannot show a single P&L line that moved
2️⃣ CEO confidence in 12-month revenue growth has fallen to 30%. Down from 38% last year & from a 56% peak in 2022. The optimism gap between CEOs & capital markets has never been wider 📉
3️⃣ Only 8% of CEOs say their company has implemented at least 5 of the 6 proven innovation practices to a large extent. Despite 50% saying innovation is central to strategy. Strategy-as-intent. Practice-as-absent
4️⃣ CEOs spend 47% of their time on issues under 1 year. Only 16% on issues beyond 5 years. A 3:1 short-term bias. Then we are surprised when strategies are reactive 🔧
5️⃣ “Cautious companies” (15% of the sample — no planned M&A, reduced investment due to geopolitics) grow 2% slower & have 3% lower profit margins than dynamic peers
In English: being cautious is the single most expensive strategic posture right now 💸
2 more things:
- 66% of CEOs experienced stakeholder trust concerns in the past 12 months. Companies with low trust trail high-trust peers by 9% in 12-month total shareholder returns. Trust is no longer a brand issue, it’s a market-cap issue
- 42% of CEOs started competing in new sectors in the last 5 years. Globalisation is not retreating, it’s reconfiguring
So what is my synthesis, as someone who coaches CEOs through exactly these transitions?
The CEOs outperforming in 2026 are doing 3 uncomfortable things:
- Making big, irreversible moves, not incremental ones
- Protecting long-horizon thinking on their calendar, even when the next quarter is screaming for their attention
- Treating trust as a balance-sheet line, not a tagline
The ones underperforming? Running faster on a shorter horizon with less conviction & labelling it “prudent”
As PwC puts it: perhaps the biggest danger is denial. The 2nd biggest is pretending activity equals progress
❓ One question: Are you running the company you INHERITED — or the company you are building?
📣 But don’t take my word for it. Take it from a recent client of mine, working for one of the largest #AI companies globally:
💬 “Working with Navid has been a transformative experience in my role. His insights & guidance helped me refine my strategic approach, leading to more effective solution designs & seamless collaboration with cross-functional teams. Navid’s ability to break down complex challenges & provide actionable advice has been invaluable to my professional growth. His coaching style is both empowering & results-driven, making a significant impact on my leadership & decision-making skills”
#AI #MasteringExecutiveTransitions #ETQ
About Navid Nazemian
Ranked as the world’s #1 Executive Coach by CEO Today for the third year running, I partner with senior leaders to navigate complexity, accelerate performance, and lead through critical transitions. Over the past two decades, I’ve supported hundreds of executives in overcoming unproductive thinking and solving their most complex leadership challenges—helping their organizations build world-class cultures and create lasting value.
If you’d like to reflect on a leadership challenge, an upcoming transition, or how I might support you, you’re very welcome to reply directly to this email.
You can also:
- Connect with me on LinkedIn for additional leadership insights
- Explore my international best-selling book ‚Mastering Executive Transitions: The Definitive Guide‘ described by Dr. Marshall Goldsmith as “THE ultimate guide to executive transitions to help leaders achieve their highest potential”
- Leave a review for my book here
What's Next? More insights on leadership, transitions, and executive effectiveness are coming your way next week. I’d genuinely value your perspective—feel free to share your reflections by replying to this email. I read every response.
Navid
