Economic downturns have a way of separating good leaders from great ones.

After two years of uncertainty surrounding Covid-19, Europe is lurching towards a recession. In March, the outbreak of conflict in Europe for the first time since the end of the Cold War sent shockwaves through the continent. Business leaders are now looking toward a long winter, after Russia’s decision to cut off Europe’s gas supply added to the inflationary pressures affecting the cost of everything from construction to baked bread. It takes more than a business-as-usual approach to survive, according to the top-scoring chief executives in Institutional Investor’s 2022 Developed Europe and Emerging EMEA Executive Teams.

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