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Chief executives remain pessimistic on UK recovery

29 July 2009

The possibility of the UK economy recovering before the end of the year has declined because of political "infighting", according to the country's chief executives.

In a survey of 59 business leaders in the manufacturing industry, the Financial Times discovered that close to half believed the government's political difficulties are adversely affecting policies related to industry and growth.

These results raise the prospect of increased interim management positions appearing in the sector, as companies continue to recruit turnaround directors with experience in operating in the present market conditions.

Improved opportunities for interim executives are linked to recessionary periods, the Institute of Turnaround suggested last week, with commercially savvy directors particularly valuable.

This assertion was reinforced by the chief executives' pessimism regarding an imminent return to growth - with 38 of the 59 questioned indicating that they thought it unlikely that this would occur in 2009.

Nigel David, chief executive of Express Engineering, told the newspaper: "Some of the responses to the economic crisis [by the government] have been knee-jerk and not well thought through."

Categories: Board & CEO


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