FORTUNE Profile picture
Oct 7 6 tweets 3 min read
91% of CEOs expect a recession within a year.

These are the 4 types of directors every corporate board needs in this uncertain economy 👇🧵fortune.com/2022/10/07/4-a…

#ModernBoard
1. ESG expert

59% percent of CEOs think they might pause ESG pursuits due to economic uncertainty, but corporate stakeholders will continue to pressure boards about ESG matters, regardless of economic conditions.
2. Cybersecurity expert

Citing geopolitical uncertainty, 81% of surveyed CEOs say they see a high risk for cyber attacks ahead.

Yet 44% of CEOs say their organizations aren’t ready to deal with that threat.
3. M&A expert

56% of business leaders surveyed say they have an appetite for M&A.

Board candidates should have experience leading significant acquisitions, predicting pain points, and helping boards navigate the arduous integration process.
4. Directors who understand sectors adjacent to their own.

Executives from adjacent sectors, who have already experienced the same sorts of transitions a company is facing, bring valuable information and a readiness to act.
Subscribe to the #ModernBoard newsletter for content like this delivered straight to your inbox: mynewsletters.fortune.com/subscribe

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More from @FortuneMagazine

Oct 7
The Fed just admitted that a sharp home price decline is possible.

Here’s what that means for you.🧵bit.ly/3eh6FGf
2) 🗣️ “While this [housing] market correction could be fairly mild, I cannot dismiss the possibility of a much larger drop in demand and house prices before the market normalizes,” Fed Governor Christopher Waller said.
3) That’s the first time a Fed official has acknowledged that the ongoing housing correction could see home prices fall at a national level.
Read 8 tweets
Oct 7
⛽ After three months of declines in U.S. gasoline prices, Americans should brace for costs to rise again soon.

Here’s why. 🧵

bit.ly/3Vd6L2r Gasoline prices are rising again. JUSTIN SULLIVAN—GETTY IM
2) On Wednesday, regular gasoline was going for an average of $3.83 across the country, according to auto club AAA, up five cents from last week.

➡️ It was the first time prices have gone up in more than three months.
3) And that was before OPEC+, a global coalition of oil-producing nations, announced it would begin cutting oil output next month.
Read 9 tweets
Oct 7
Welcome to Fortune’s Twitter Space. 🎧 @NewsLambert and @calculatedrisk are breaking down the latest in the housing market’s downturn – and what happens next.
📉We’re going to see slowdown in both home sales and apartment renting. And we’ll also see price declines, said @calculatedrisk.
Read 5 tweets
Oct 7
📉Global economic growth is expected to slow down to 2.5% this year, and 2.3% by 2023. That means a global recession is almost a fact, as 2.5% is the threshold for that.

Many, including the UN, blame the U.S. Fed. Here’s what they say. 🧵 bit.ly/3fRDiuN
2) The Fed continues to raise interest rates to cool the U.S. economy and reduce inflation.

👉But as a side effect, these policies also elevate the risk of a recession. bit.ly/3rEjxtg
3) 🌎The tricky part is that the Fed's monetary policy doesn’t influence only the U.S. It’s strengthening the U.S. dollar.

That then pressures central banks in the rest of the world to raise interest rates, too. bit.ly/3x3Imll
Read 7 tweets
Oct 6
🏙Hong Kong’s housing market has survived political change and the COVID pandemic to remain the world’s most expensive. Now, it can fall 30% by 2023, Goldman Sachs predicts.

Here’s why. 🧵 bit.ly/3CeuMgT
2) 📈 Rising interest rates are to blame.

The steep decline is caused by a faster-than-expected rise in the Hong Kong interbank offered rate (HIBOR), to which 90% of the city’s mortgages are tied, says Goldman Sachs.
3) Apart from HIBOR’s increasing rate, which is now at 3.46%, a 14-year high, Hong Kong’s de facto central bank, HKMA, also raised rates to 3.5% to match the U.S. Fed Reserve.
Read 6 tweets
Oct 6
Football star Tom Brady and his supermodel wife, Gisele Bündchen, have reportedly hired divorce attorneys.

Here’s what a split could mean for their fortune. 🧵 bit.ly/3CbH5dH
2) As of this year, Forbes ranks Brady as the world’s ninth highest-paid athlete, with an annual income of $83.9 million on and off the field.

Bündchen, who became a face of Victoria’s Secret, was the world’s highest-paid model from 2002 to 2016.
3) Of Brady’s nearly $84 million in annual income:

👉$31.9 million came from his football pay
👉$52 million came from endorsements

Bündchen’s annual income—as of 2016—was $30.5 million.
Read 6 tweets

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