KPMG 2024 CEO Outlook: The private company perspective

376

Private Company CEOs

11

Countries

11

Industries

In an era of unprecedented change, private company CEOs face unique challenges. From navigating economic uncertainties and geopolitical complexities to embracing cutting-edge technologies like Generative AI (Gen AI), these leaders are constantly balancing growth ambitions with the need to adapt and innovate.

KPMG 2024 CEO Outlook: The private company perspective offers an exclusive deep dive into the perspectives of 376 private company CEOs across 11 countries and 11 industries. Discover how these leaders are managing economic pressures, leveraging Gen AI for operational efficiency, and prioritizing workforce dynamics to attract and retain top talent. Learn about the strategies they’re using to drive growth, including mergers and acquisitions (M&A) and organic expansion.

This comprehensive report also highlights the role of Environmental, Social, and Governance (ESG) strategies in shaping private companies' future. CEOs are increasingly focusing on ESG to build stronger customer relationships, foster employee engagement, and meet stakeholder expectations.

Key findings from our research

68% of private company CEOs are confident in their business’s growth prospects.

62% say that, despite economic uncertainty, Gen AI is a top investment priority for their organization.

33% of respondents say the workforce factor with the biggest impact on their organization today is the number of employees retiring coupled with a lack of skilled workers to replace them.

70% say that – as confidence and trust in governments decline – the public is looking to business to fill the void on societal challenges.

71% of private company CEOs say that they’ve kept the same ESG strategy but have adapted their communications to meet changing stakeholder demands.

The reality is there’s a limited amount of capital that companies have to grow right now — and the money that they can get is still expensive. With uncertainty still very high, private companies are acting cautiously to make certain that the money they are spending is purposeful. While the appetite for M&A is growing, companies will likely evaluate any potential deals quite carefully to determine whether they can get the value they want given the current business environment.

Conor Moore
Global Head of KPMG Private Enterprise, KPMG
Head of KPMG Private Enterprise, KPMG in the US

Methodology

The KPMG 2024 CEO Outlook: The private company perspective, part of the 10th edition of the KPMG 2024 CEO Outlook, is compiled from the views of 376 chief executive officers of private companies, which was conducted between 25 July and 29 August 2024, providing unique insight into the mindset, strategies, and planning tactics of CEOs.All respondents have annual revenues over US$500M and a third of the companies surveyed have more than US$10B in annual revenue. The survey included CEOs from 11 key markets (Australia, Canada, China, France, Germany, India, Italy, Japan, Spain, UK and US) and 11 key industry sectors (asset management, automotive, banking, consumer and retail, energy, infrastructure, insurance, life sciences, manufacturing, technology, and telecommunications). NOTE: some figures may not add up to 100 percent due to rounding. In the private company perspective, the largest industries were from infrastructure and transportation, insurance, asset management and telecommunications with 11 percent each. The best-represented countries based on organizational headquarters are the US, the UK, followed by Germany, India, France, Spain and Italy.