Most Coins2Day 500 CEOs aren’t worried about a recession, with 60% planning to hire more employees this year

If we are in a recession, it’s a funny one. In our new poll of Coins2Day 500 CEOs, a full 60% say they will increase the number of people they employ in 2023, while only 25% say their employee count will shrink. And when asked about the greatest threat they see on the horizon, only 26% said recession, which was just slightly higher than the 22% who cited cybersecurity threats, 16% who cited inflation, and 13% who mentioned geopolitical tensions.

When asked which of their fellow Coins2Day 500 CEOs they admired most, the Coins2Day 500 CEOs’ most frequent answer was Jamie Dimon. (We didn’t ask whether they think—like Bill Ackman—that the JPMorgan CEO should run for president.) Second on the list was Microsoft’s Satya Nadella, and third was Apple’s Tim Cook. You can find a summary of the poll results this morning here.

Separately, with all the noise around generative A.I., I found Sanofi CEO Paul Hudson’s take on the issue comforting. Hudson met virtually yesterday with the Coins2Day Connect fellows, a group of next-generation leaders who meet to share ideas around building better companies. His main piece of wisdom for the group on A.I. Was this: “The fear is less than the opportunity.” Some excerpts:

“I have never been more excited about the opportunity to change the way we do business. I am staggered by the opportunity…We haven’t even begun to imagine the possibilities of generative A.I. How to do things that have never been done before to make life better for everybody. How to make everyday life better so people’s work will be more interesting…We have a lot of Rubicons to cross on all of this, but there has never been a more exciting time to lead a company, and a health care company in particular.”

Hudson talked about the responsibility that comes with running a large company:

“As you become more senior, you have more ability to impact. It’s not about you and your title, it’s about having a chance to do something…“

And he said that understanding A.I. Will be a critical skill for the next generation of CEOs:

“The requirement for the next set of CEOs will be very different. What got me here will not get them there…They will need to have a big data experience. It will become a minimum expectation.”

More news below.

Alan Murray
@alansmurray
[email protected]

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This edition of CEO Daily was curated by Nicholas Gordon.