​More than a quarter (27%) of CEOs in Romania believe that the organizations they lead will not survive ten years from now if they continue on their current course, according to a survey of CEOs by PwC in Romania. When asked what factors will affect their industry’s profitability in the medium term, executives cited changing consumer preferences, regulatory changes, skills shortages, new technologies, the transition to new energy sources and supply chain disruptions. A synthesis of the opinions of this year’s respondents will be found in the PwC Romania CEO Survey report, which will be released at the conference on March 29.

“One of the most pressing questions for business leaders is how they can transform their organizations to ensure their long-term viability. The pace of change is incomparably faster than 10 or 20 years ago, and the risk of not keeping up is commensurate. Most business leaders say they are investing in process automation, new technologies such as the cloud or artificial intelligence, and, just as importantly, in employee skill development. Identifying and retaining talent is a big concern and concern for companies, because no transformation can happen without the right people,” says Dinu Bumbeca, Managing Partner of PwC in Romania.

To better understand the vision of the company’s economic and business leaders, we conducted a series of interviews for the “In the head of the CEO” section of the report with: Omer Tetic, CEO Banca Transilvania, Andrea Pipernea, CEO NN Pensions, Cătălin Radu, CEO Bristol Myers Squibb , Mihaela Bîtu, CEO ING Bank, Julien Munch, CEO Carrefour, Raffel Volker, CEO E.ON Romania, Sergiu Manea, CEO BCR, Francois Bloch, CEO BRD Groupe Société Générale and Kelin Kostinas, Deputy CEO of Profi Rom Food. The full interviews will be published in the report and on the PwC Romania blog here.

In this article, you can read the contributions of Michaela Bitu, CEO of ING Bank, Julien Munch, CEO of Carrefour, Raffel Walker, CEO of E.ON Romania.

Mihaela Bitu, ING Bank Romania: “Although we hoped that 2022 would be calmer after the pandemic period, reality surprised us with new upheavals: the war in Ukraine, the energy crisis, inflation at levels not seen in many years. However, the Romanian economy and society have once again demonstrated their resilience and adaptability. Economic growth of 4.8% last year exceeded analysts’ expectations, and the banking sector is well capitalized and ready to successfully face challenges. Of course, we must remain vigilant in view of geopolitical and economic uncertainties, but I believe and hope that 2023 will be a year of quasi-normalization. Although we did not expect a rapid evolution, inflation is on a downward trend and the outlook for global and local economic growth seems positive.”

“At ING Romania, we have a smart approach, capital reserves and a solid provisioning policy, which allows us to confidently look to the future and be there for our clients in both good and difficult times.” You can read the full answers from the interview here.

Volker Raffel, CEO of E.ON Romania: “The energy crisis once again showed us how vital this sector is for the economy. Significant investment is needed to ensure energy security and make the sector sustainable. Distribution networks, both gas and electricity, need billions of euros of investment by 2030 to improve their efficiency and compliance with the Green Deal and Fit for 55 standards.”

“From an energy point of view, Romania has an excellent starting point, as only 10% depends on gas or electricity imports. Potential for investment in wind, solar, etc. production capacity. very well and we are already seeing increased interest from investors. Romania could, for example, follow the example of the Iberian countries: attract investors who are looking for places to produce cheap energy for the European market.” You can read the full answers from the interview here.

Julien Munch, CEO of Carrefour Romania:I am convinced that Romania has economic potential. Romania is developing in the region, entrepreneurship is flourishing, there is room for investors. Since we are partners of Romanian companies, we can directly experience their creativity and creativity. However, I see three important conditions for further supporting the country’s growth and continuing to give confidence to private investors. First, predictability and some legislative and fiscal stability in the medium term; secondly, continued investment in the country’s core infrastructures, and thirdly, a topic that is rarely mentioned today, but which is nevertheless vitally important, is demography and its dynamics. These are, of course, also European issues, but I believe that the further growth of Romania will partly depend on them. Looking at the Carrefour team in Romania, at our suppliers, at our business partners and at the potential of the market, I have enough reasons to remain optimistic and believe in the stable evolution of the country in the future.” You can read the full answers from the interview here.

The survey of CEOs by PwC has been studying the perceptions of Romanian managers about the development of the economy, prospects, challenges and opportunities for the development of the organizations they lead for more than ten years. A synthesis of the opinions of this year’s respondents will be found in the PwC Romania CEO Survey report, which will be released at the conference on March 29.

Article supported by PwC Romania