These slides were presented by Ricky Foo in the annual CEO Seminar that was co-hosted by Mercuri Urval and Executives' Global Network (EGN) in Singapore

1. Executive Search | Professional Recruitment | Talent & Leadership Advisory | Worldwide
MERCURI URVAL & EGN – CEO SEMINAR
The Next Economic Armageddon
Ricky Foo
Group Director, Mercuri Urval
December 4, 2019

2. Agenda
• Mentimeter – Quick Survey
• Demographics of CEO Seminar Survey
• When Will the Next Global Crisis Happen?
• Dark Spots – Challenges & Risks
• Bright Spots – Opportunities for Growth
• Looking Back & Looking Forward – What Can We Do?
• Headlines from Harvard Business Review Articles
• Leadership Approaches – Preparation for Economic Recession
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3. Regional Responsibilities
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4. Industry Sectors
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5. Global Annual Revenue
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6. Job Functions
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7. Executive Search | Professional Recruitment | Talent & Leadership Advisory | Worldwide
SURVEY RESULTS – QUANTITATIVE DATA
When will the next global crisis
happen?

8. Next Global Economic Crisis
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N = 20

9. 9
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Results from CEO Seminar
(Dec 4th)

10. Executive Search | Professional Recruitment | Talent & Leadership Advisory | Worldwide
SURVEY RESULTS – QUALITATIVE DATA
Dark Spots
Challenges and Risks
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11. Dark Spots
Challenges and Risks
• Financial challenges
• Disruption in trade
• People challenges
• Change of business models
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12. 12
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Results from CEO Seminar
(Dec 4th)

13. Financial Challenges
• Decrease in credit
• Decrease in investment
• Decrease in cash flow
• Price war
• “Cash is king”
• Will start-ups survive?
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14. Disruption in Trade
• Decrease in global trade
(US & China = 33% of global trade)
• Increase of tariffs
• China “dumping” goods into APAC / SEA
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15. People Challenges
• Psychological fear and pessimism
 affecting mental health
• Retention and loyalty issues
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Change of Business Models
• Are we changing quick enough?
• Old vs. New
• Traditional vs. Future-oriented

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SURVEY RESULTS – QUALITATIVE DATA
Bright Spots
Opportunities for Growth
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17. Bright Spots
Opportunities for Growth
• Healthier banking system
• Growth in regional trade
• M&A opportunities
• Change & innovation
• Relationships
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18. 18
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Results from CEO Seminar
(Dec 4th)

19. Growth in Regional Trade
• Growth in Intra-Asia trade
• New markets in the region
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M&A Opportunities
• The weak will die, the strong will survive.
• Prepare a “war chest”

20. Change & Innovation
• Lean
• Optimization
• Entrepreneurship
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Relationships
• Easier access to talents
• Opportunity to build loyalty with customers

21. Executive Search | Professional Recruitment | Talent & Leadership Advisory | Worldwide
Looking Back + Looking Forward
What can we do?
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22. Looking Back + Looking Forward
What can we do?
• Manage your finances well
• Risk management
• Take care of your customers
• Develop your talents
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Results from CEO Seminar
(Dec 4th)

24. Manage Your Finances Well
• Liquidity and cash is king
• Hedge currency exposures
• Deleverage and reduce debt
• Build buffers
• Stay fit, flexible and lean
• Be financially independent, maintain low / no debt
• Assess your partner’s financial credibility
• Prepare to be “fast and furious”  build up your “muscles” (capacity)
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25. Risk Management
• Diversification of accounts, markets, products
• Limit your exposure
• Go for projects that fit your risk criteria
• Develop contingency plans
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26. Take Care of Your Customers
• Build up your influencers
• Create business cases
• Deeper relationships
• Stay close
• Focus on core value portfolios
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Develop Your Talents
• Build multi-skilled teams
• Hire critical positions externally
• Hire flexible and adaptable people
The key is to focus on RELATIONSHIPS!

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Headlines from
Harvard Business Review Articles
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28. Headlines from Harvard Business Review Articles
Seize Advantage in a Downturn (Feb 2009)
Financial Fundamentals
1. Monitor and maximize your cash position
2. Tightly manage customer credit
3. Aggressively manage working capital
4. Optimize your financial structure
Current Business
1. Reduce costs and increase efficiency
2. Aggressively manage the top line
3. Rethink your product mix and pricing strategies
4. Rein in planned investments and sell assets
Source: https://hbr.org/2009/02/seize-advantage-in-a-downturn

29. Headlines from Harvard Business Review Articles
Companies Need to Prepare for the Next Economic Downturn (Apr 2019)
Companies who weather downturns
successfully tended to respond
differently…
1. They acted early
2. They took a long-term perspective.
3. They focused on growth, not just cost-
cutting.
How to prepare for the next downturn
1. De-average your response.
2. Build resilience to the unexpected.
3. Invest in growth.
4. Don’t lose sight of your long-term transformation
agenda.
5. Focus on technological competitiveness.
6. Contribute to common problems collaboratively.
Source: https://hbr.org/2019/04/companies-need-to-prepare-for-the-next-economic-downturn

30. Headlines from Harvard Business Review Articles
How to Survive a Recession & Thrive Afterward (May 2019)
1. Deleverage before a downturn
2. Focus on decision making
3. Look beyond layoffs
4. Invest in technology
Source: https://hbr.org/2019/05/how-to-survive-a-recession-and-thrive-afterward

31. Executive Search | Professional Recruitment | Talent & Leadership Advisory | Worldwide
SURVEY RESULTS – QUALITATIVE DATA
Leadership Approaches
To prepare for the economic recession
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32. Leadership Approaches
• Self-Management
• Vision & Purpose
• Develop “What If” Scenarios
• Communication
• Involvement & Engagement
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33. Self-Management
• Stay calm  Limit FEAR (False Evidence Appearing Real)
• Smile
• Show confidence
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Gladiator (2000)

34. Vision & Purpose
• Don’t change the vision and purpose,
• … but shift the time scale
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Develop “What if” Scenarios
• Risk assessments
• M&A targets
• Growth opportunities

35. Communication
• Detecting signals and update regularly
• Be proactive, open and transparent
• Set clear expectations
• Remind people of the past
(how bad it was in the previous crisis)
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36. Involvement & Engagement
• Create sense of belonging
• Break the silos
• Being supportive
• Develop joint ownership
• Involve people
• Engage the Board
• Invest in people and build the right team
(leadership capabilities and core competencies)
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37. Ricky Foo
Group Director
 Group Director for Mercuri Urval, based at the firm’s Singapore
office. Leading the firm’s Executive Search and Talent Advisory work,
with specialization in the industrial, manufacturing and consumer
goods sector. He has worked actively in the Southeast Asian
countries, Korea, China, Taiwan and Hong Kong.
 Ricky leads the Asia Pacific (APAC) Initiative in Mercuri Urval and he
actively supports clients to develop and grow in the region. He
understands the APAC region well and acts as a bridge for
Nordic/European clients.
 Ricky has a consulting background in training and organization
development. He has led development projects in the APAC region to
support growth of sales teams and leadership teams. He is
accredited in MBTI, The Leadership Challenge Workshop and Strong
Interest Inventory.
 He holds a Master of Arts (Education and Human Development) at
George Washington University. He is fluent in English, Mandarin,
Cantonese and Malay Language.
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Ricky joined Mercuri Urval in 2013. The
majority of the assignments Ricky leads
and participates into are related to
executive search and talent advisory
assignments in the APAC region. His main
speaking partners are with the senior
business executives and talent
acquisition/development directors.
Key consulting expertise:
1. Executive Search
2. Talent and Leadership Advisory
3. Organization Development
Consulting Expertise
ricky.foo@mercuriurval.com
+65 6634 2851
+65 9072 2911
Singapore

38. In search of the extraordinary executive
Mercuri Urval Executive Search
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