Leading through uncertainty: creating momentum despite the headwinds

What helps companies move forward when certainty disappears? Juan de Porras Aguirre, Executive Director Corporates at Erste Group, shares why leadership, financing and decision-making need to be rethought in an era defined by volatility. At the Austrian CFO Day 2026, he will join the CxO Panel Talk on how executives create momentum in an era of persistent uncertainty.

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WHAT SEPARATES ORGANISATIONS THAT CONTINUE TO MOVE FORWARD FROM THOSE THAT BECOME PARALYSED BY UNCERTAINTY?

The last five years have brought many companies shocks that seemed unimaginable before – from Covid pandemic to wars. That has shown everyone that there is no longer one traditional way of doing business. Companies that continue to make progress are the ones that understand their clients’ changing needs, challenge their own business and established ways of doing things. And equally important, they stay open to new approaches and work with partners who can help them make the right strategic decisions. That´s why at Erste, we support our corporate clients by thinking together with them about the challenges ahead, sharing broader perspective we see across markets and industries, and, most importantly, delivering on what we promise.

GEOPOLITICAL TENSIONS, SHIFTING ECONOMIC CONDITIONS AND TECHNOLOGICAL DISRUPTION ARE FORCING EXECUTIVES TO MAKE DECISIONS WITH INCOMPLETE INFORMATION. HOW DO YOU APPROACH DECISION-MAKING IN SUCH AN UNCERTAIN ENVIRONMENT?

There is no longer such a thing as a manager who knows everything. With AI, information is available at the click of a button, but making good decisions still requires curiosity and trust, and most importantly humility. The best decisions come not from solo-leaders, but from teams with different perspectives and expertise. I learn every day from colleagues in areas far beyond my own experience, and leaders need to be comfortable relying on that collective knowledge rather than pretending to have all the answers themselves.

FROM YOUR PERSPECTIVE, WHAT DO COMPANIES MOST OFTEN UNDERESTIMATE WHEN PREPARING FOR INCREASING ECONOMIC VOLATILITY?

Some companies overestimate the availability of liquidity. The truth is that market, regulatory or strategic changes can alter the financing landscape surprisingly quickly. So, companies cannot assume anymore that every financing partner will always be available under all circumstances. The quality of the relationship matters. When trust has been built over time, banks are better positioned to support clients through difficult periods. At the same time, the financial sector itself is changing, becoming more sophisticated and more consolidated, which makes long-term partnerships even more valuable.

HOW CAN EXECUTIVES PROVIDE DIRECTION AND CONFIDENCE WITHOUT PRETENDING THEY HAVE ALL THE ANSWERS?

As leaders become more experienced, they may recognise patterns from the past that help guide their thinking, but today’s environment continues to produce situations that nobody can predict with certainty. We live in a world full of opinions and breaking news. That´s why the most productive leaders are often those who spend less time speculating about what they cannot control and more time improving what is within their reach.

WHAT LEADERSHIP MINDSET IS MOST CRITICAL FOR CFOS AND SENIOR EXECUTIVES WHO WANT TO CREATE MOMENTUM AND DRIVE SUSTAINABLE PROGRESS?

The most important mindset is openness to new solutions and a willingness to challenge established practices when the fundamentals have changed. Too often, organisations resist new solutions because they appear more complex or require changes to traditional processes. Tradition and history are valuable, but having a strong tradition does not mean holding on to the past.

Today’s financing environment offers far greater sophistication and flexibility than many companies realise. The key is maintaining an open dialogue, being willing to explore alternatives and recognising that innovation is often driven by clear business fundamentals rather than change for its own sake.

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AUSTRIAN CFO DAY

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