Tue, 22 May, 2012, 2:02 PM EDT - Canadian Markets close in 1 hr 58 mins

CEOs to tweak strategies in 2012: PwC report

Reuters – Fri, 24 Feb, 2012 8:02 AM EST

TORONTO (Reuters) - Most Canadian chief executives don't expect the global economy to improve in 2012 and plan to change strategic course, with many looking overseas for growth, according to a report by consultants PwC.

Facing easy access to financing and slower growth at home, many of those executives said mergers and acquisitions will be key tools to effect that change, the survey showed, and 45 percent said they wanted to spend more time developing foreign operations.

"We believe this is likely a reaction to concerns that CEOs have over a challenging global economy and an acceptance of slower domestic growth," said PwC Canadian deals leader Kristian Knibutat.

The PwC report said one quarter of Canadian CEOs are planning to engage in M&A this year - versus 12 percent globally - and was based on 130 CEO interviews in Canada. It was part of a global survey of 1,258 executives.

(Reporting By Pav Jordan; editing by Rob Wilson)

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3 comments

  • James
    James  •  Toronto, Ontario  •  2 months ago
    Canadian firms including the big 5 banks all experienced billion dollar losses in foreign business ventures. Boards that approve foreign budgets get ready to get burned. A business which cannot take care of its home base stands to fall abroad. Learn from Apple not from Rim.
  • Ron
    Ron  •  2 months ago
    Canadian Company's overseas particularly in the third world are, with one or two exceptions in mining, like babes in the wood -most are so naive it is embarrassing and Canadian Embassy trade support is virtually non-existent. Most Canadian Projects overseas fail miserably or cost the Canadian taxpayer (thru CIDA, ADB or EDC) millions in loans, grants and write-offs -stay at home and save Canada some money!
  • Brewster
    Brewster  •  Toronto, Ontario  •  2 months ago
    More jobs going to India.
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