Odgers Berndtson: What Brexit May Mean for FTSE100 Companies
Odgers Berndtson’s head of CFO Practice in London, Mark Freebairn, looks at what the United Kingdom’s exit from the European Union may mean for FTSE 100 companies. Freebairn considers research showing that the percentage of CFOs of FTSE100 Companies who were non-UK nationals has risen from just 8% in 2001 to almost 30% in 2016. With this rise in non-UK CFOs in UK companies, the author raises the question of whether, post-Brexit, this percentage will drop, resulting in the United Kingdom no longer being able to hire the best talent.
Freebairn cites early trends which seem to indicate that, in the early stages of the UK’s exit from the EU, Europeans are less likely to consider a role in the UK than they were pre-Brexit as well as non-UK nationals currently in the UK are less likely to consider remaining in the UK when considering their next career move.