Nicosia, Cyprus. Senior executives and emerging entrepreneurs meeting in Nicosia said the next generation of Cypriot family-business leaders must adapt to a volatile environment through tech-driven leadership and emotional intelligence. The discussion focused on pressures facing those expected to manage succession and business transition.
Roundtable held under IMH initiative
According to a report by InBusiness, the event formed part of IMH’s year-long Gen Z & Millennial Project, which aims to bridge established institutional knowledge and the perspectives of young business owners.
The discussion included senior executives from PwC Cyprus, Bank of Cyprus (BoC), European University Cyprus, Cablenet and Lexus Cyprus (Toyota), who exchanged views with young entrepreneurs on the future of the local economy.
PwC Cyprus cites technology, AI and succession challenges
PwC Cyprus CEO Philippos Soseilos said the organisation supported the initiative as an investment in Cyprus’ future and told participants that organisations had experience to share.
Soseilos said PwC had invested in the project because it was investing in the future of Cyprus and described young entrepreneurs as a generation with an important role in transitioning businesses toward technology and AI.
He also said younger leaders are expected to manage succession, including its emotional side, describing succession as a journey with many stages.
Soseilos said the roundtable aimed to help participants accelerate value for their family businesses and the wider economy, adding that PwC aims to act as a catalyst and accelerator of change and succession.
Bank of Cyprus links evolving banking to new entrepreneurs
BoC manager of large corporate centres Ireni Yiannourou said the bank remains closely connected to Cyprus’ business community and recognises the importance of the new generation of entrepreneurs.
Yiannourou said BoC is intertwined with the business world of Cyprus and, as the bank seeks to evolve and adapt to a changing environment, it also understands the importance of younger business leaders.
What steps are you taking to prepare for technology-driven change and the emotional demands of succession in your business?