Board members are still waiting for the impact of Brexit to hit but now is the time to act, according to new analysis from leading global professional services firm Alvarez & Marsal (A&M). Building on its research with Henley Business School published earlier in the year (‘Boards in Challenging Times: Extraordinary Disruptions’), A&M analysed the boardroom response to Brexit through a series of interviews with seasoned UK executive and non-executive board directors, as listed below.
This analysis found that despite the likelihood that Brexit will take months or years to play out, there are some sectors already experiencing and reacting to the consequences to the referendum. Notably, the research highlights that some private equity funds, which tended to conduct greater quantitative analysis before the result, are already refocusing new investment into the Americas and Asia – seeing the UK and Europe as “too difficult”.
Other findings reveal a ‘get on with it’ attitude in the British boardroom, with many directors asking that Brexit not be used as an excuse for delaying business decisions or poor performance. One board member interviewed said: “The biggest worry in the short term is that it becomes the totem excuse.”
Companies, investors and government entities around the world turn to A&M when conventional approaches are not enough to drive change and deliver results. Privately-held since 1983, A&M is a leading global professional services firm that delivers performance improvement, turnaround management and business advisory services to organisations seeking to transform operations, catapult growth and accelerate results through decisive action. Our senior professionals are experienced operators, world-class consultants and industry veterans who draw upon the firm’s restructuring heritage to help leaders turn change into a strategic business asset, manage risk and unlock value at every stage.
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