JF Insights
The 2025 Landscape So Far
The only constant is change.
As the Milken Institute Global Conference convened leaders across finance, policy, and business earlier this month, whether in discussions about AI, tariffs and global trade, or climate, one theme underpinned it all: the only constant is change.
What We’ve Seen in 2025 So Far:
- Leadership in Motion: Executive transitions are on the rise compared to this time last year. Boards appear focused on repositioning for a new cycle, while investors are scrutinizing leadership alignment more closely than ever.
- Earnings Season, Elevated Stakes: Market uncertainty has elevated the importance of tone and message this earnings cycle, a time when vague commentary can lead to sharp reactions. Companies must thread the needle with a new approach that acknowledges headwinds, projects confidence, and communicates what’s on their agenda (regardless of the macro).
- PE Driving M&A Activity: While strategic M&A remains light in the first few months of 2025, private equity investors continue to lean into the dislocation. Firms with access to capital are identifying and executing on highly complex transactions at a much faster clip than other dealmakers. At the same time, a challenging fundraising market is driving a further wedge between industry “winners” and “losers.” With deal rationale under heavier scrutiny, communications strategies are more important than ever to clearly articulate value creation, alignment, and long-term vision.
- Narratives in Need of a Refresh: With global macro forces reshaping everything from capital allocation to governance and sustainability programs, legacy investor messaging is showing strain. Companies that proactively adapt their narratives – and use creative and digital channels to share them – will be better positioned to earn trust in an environment marked by skepticism.
Our Takeaway
In this environment, the companies that communicate most effectively and credibly through change will lead. Whether navigating leadership transitions, pursuing M&A, or holding the line on strategy, it’s not just what you do, but how you communicate through it.