[FORTUNE] “The threat of a recession, talent shortages, and geopolitical tension are among the many challenges corporate boards must navigate in 2023”
As the year comes to a close, it’s only human to hope for a less volatile 2023. Alas, for corporate directors, the forecast calls for complexity and heaps of uncertainty.
Boards should expect to deal with more of the same issues that tested their mettle over the last two years, but with the risk of economic downturn as an added twist, says Paul Knopp, CEO at KPMG US.
“Nothing seems unimportant,” says Angela Sun, a Western Union board member, who spoke to Fortune at Diligent Institute’s Next Gen Board Leaders Program this month. “In the last five years, there’s been this proliferation of issues that all seem to matter: cybersecurity matters, privacy matters, enterprise risk matters, capital structure matters.” She says boards must educate themselves on these competing priorities, knowing that any one can turn into a crisis.
FORTUNE Media, Commentary, “The threat of a recession, talent shortages, and geopolitical tension are among the many challenges corporate boards must navigate in 2023” by Lila Maclellan