CEO Survey

Survey methodology

111 CEOs representing more than 21 industries participated in this Fortune/Deloitte CEO Survey. 80% of respondents are from organizations based in the United States, and the remainder are from organizations based outside of the United States.

It is important to note that the survey was conducted from April 1 to April 11, immediately following the announcement of reciprocal tariffs on April 2. The results may be influenced by the heightened uncertainty due to the tariff announcements, stock market fluctuations, and bond market volatility.

The survey consisted of 8 questions that explored outlook, the economy, and artificial intelligence. The following pages present key findings.

Surveyed CEOs include Fortune 500 CEOs, Global 500 CEOs, and select public and private CEOs in the global Fortune community.

This Spring 2025 survey is the 15th edition of the Fortune/Deloitte CEO survey series. Information on previous surveys is available here.

Recent shifts in policy, evolving trade dynamics, and heightened economic uncertainty have significantly dampened CEO optimism. In this challenging environment, the key takeaway is the critical need for adaptability and forward-thinking leadership. By embracing change and innovation, there is an opportunity to transform uncertainty into a catalyst for sustainable long-term growth.

— Jason Girzadas, CEO, Deloitte US

Outlook and disruptors

A majority of CEOs report high levels of pessimism about the global economy, compared to 18% in Fall 2024. CEOs’ optimism for their organizations and industries plummeted from Fall 2024: from 84% to 60% for their organizations, and from 61% to 32% for their industries. The level of uncertainty across the economic, geopolitical, and political landscape is a top challenge today, according to a majority of CEOs, and perhaps a key driver in the shift in outlook. As one CEO shares “The biggest challenge I face today is the uncertainty related to the global economic landscape and the lack of sustained planning…

Economic Uncertainty

Given current economic and trade policy uncertainties, CEOs are responding to an evolving environment and preparing for more uncertainty. As supply chain disruption joins the list of the top five disruptors, the majority of CEOs report that changes are ahead: 61% plan to expand and diversify their supply chains to mitigate risks, while 10% plan to redesign their supply chains to localize operations

About 40% of CEOs plan to implement cost -cutting measures, and 11% plan to absorb increased costs for the short -term. In contrast, just 28% plan to raise prices, despite market expectations of rising consumer costs. Given the overall economic environment, 23% of CEOs are planning to postpone major new investments for the next three to six months. As CEOs weather current market conditions and trade policies while attempting to plan for the future, a common challenge is around ambidextrous leadership: “My biggest challenge is the ability to balance short -term and long -term goals,” one CEO reports

Artificial Intelligence

Artificial intelligence continues to play a key role in CEOs’ current and future plans. A majority of respondents (62%) report that GenAI has either met or exceeded their expectations of value delivered to their organizations. However, 18% report that it made no noticeable impact and another 20% said it made less or significantly less impact than expected. A majority of CEOs (89%) also say their organizations are exploring or implementing agentic AI, with 11% expecting to have agentic AI fully implemented in at least one business function by the end of the year. CEOs continue to focus on how AI can deliver value for their organizations and the impact on their industries. They’re also thinking about how to keep up with such fast – changing technologies and how to leverage them in the face of global uncertainty. One CEO reflected on their biggest challenge: “Navigating significant uncertainty and rapid change while generating excitement and energy around technology advancements and transformative opportunities.”

CEO Roles and Reflections

While CEOs often speak to resiliency in their role as leaders, global uncertainty has both posed new challenges to maintaining that resiliency and created an even greater need for it. Many CEOs share that their biggest leadership challenge is around uncertainty, and many listed adaptability, followed by agility, and flexibility, as top leadership attributes needed to respond to unforeseen events now and in the future.

As CEOs reflect on their stakeholder management approaches over the past six months, they report to have increased engagement with their employees, strengthened relationships with key customers, and enhanced collaboration with their executive leadership. “Communication and interpersonal skills will become increasingly more important in the digital age moving forward,” one CEO reports.