Kendall Langston: Pivot & Pace Founding Partner on the country's leading CEOs becoming increasingly frustrated by the lack of long-term thinking

New research suggests nearly 100 of our CEO's are backing their businesses but not New Zealand.  

The Pivot and Pace survey found many CEOs are growing frustrated with the country's lack of long-term thinking.  

Many are saying three-year political cycles and a lack of cross-party agreement are holding the country back. 

Founding Partner of Pivot & Pace Kendall Langston told Mike Hosking there are other countries with visions longer than two political cycles.  

He says CEOs aren't wanting Government involvement – rather a runway and guaranteed resilience to create some confidence in the direction they're heading. 

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Episode Transcript

Speaker 1 (00:00):
You serve a new insight, this one into what our
CEOs are, what they think basically of our long term
plan as a country. No surprise three year political cycles
and lack of cross party agreement of holding us back.
Kendall Langston is the founding partner of Pivalent Pace. They've
done the work on this and Kendall's with us. Very
good morning to you. Now you reckon this is a

(00:21):
New Zealand thing or a Western world thing.

Speaker 2 (00:25):
Well it's probably a bit of both, but definitely it's
a New Zealand thing. We looked across seventy nine New
Zealand CEOs of medium larger privately held companies in New
Zealand CEOs working into boards and they're definitely telling us
give us a longer term horizon and which to make
plans and which to invest to gain capital to take initiatives.

Speaker 1 (00:50):
The juxtaposition there is that they back and reading this research,
they backed their own companies, so they're backing themselves, which
is encouraging. But of course what's the point of going
what I am I would like is when you know
it's not going to happen. We're not going to get
a long term vision and I mean, we've been arguing
this for years, haven't we.

Speaker 2 (01:07):
Well it's not a new one, but certainly it's loud
and clear, and it's not just this survey piece. I mean,
we do this preroominally, so we know what the issues are.
CEOs want to know what others are thinking. But it's
really I mean, it can be achieved. There are plenty
of examples out there where countries do have longer term

(01:27):
visions and I'm not saying it needs to be thirty
or fifty years out. It would be great if it
was outside two political cycles. So it gives a bit
of certainty. There is a lot of change. There's a
lot of short term issues. CEOs are saying, we don't
want government involved and it will fix it. Give us
the runway and the resilience, you know, to build some
resilience and to create some confidence in the direction.

Speaker 1 (01:49):
That's a legislative thing, isn't it. The countries you refer to,
mainly in Europe, they have bodies or established bodies or
rules or understandings whereby if you commit to something, it's
in place. It doesn't matter what happens government of the day.

Speaker 2 (02:02):
Yeah, I think there definitely needs to be some you know,
some ability to change, because we're in a huge amount
of change at the moment. But I think what it's
saying is the direction. What's that mature conversation. What are
we creating in New Zealand? You know, what is it
long term? And therefore in the medium term, where do
we need to go? And look, there are plenty of

(02:22):
opportunities out there. This is not a government of the
day issue. This is about just you know, creating that
longer runway around big issues infrastructure industries, giving industries a
chance to transition in the change in a runway for that.

Speaker 1 (02:38):
Having said that, speaking of transition, that you talk about
capital or the access to capital, I mean, I can't
work out what's going on. Is capital a problem it?
I mean the world's washed with If you say I'm
into AI, they can't give you enough money. So is
it a sort of an industry or sector specific issue.

Speaker 2 (02:54):
Well, largely it's governed by our main banks and then
the access to the stability here in New Zealand. And
you know, I'm not an expert in that area, but
most companies, you know, capital is a restraint you know,
to invest, and so it's it's you know, it's that
risk profile. And I think that's the other thing coming
through is you know, the risk profile needs to mature.

(03:18):
You can't not have risk. There's risk and doing nothing.
There's a risk in doing you anything. But it's around
how do you get the confidence to take a punt
to back an opportunity? And that's what that's what we're
hearing here.

Speaker 1 (03:30):
Interesting insight. Well done, Kenda Langston, founding partner at Perbot
and Pace This Morning.

Speaker 2 (03:35):
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