Study Says CEOs Are Considering M&A—Is Your Board Ready?

Summary

New research from the Oliver Wyman Forum’s third annual CEO Agenda survey of 415 chief executives finds a sharp rise in planned mergers and acquisitions. Ninety‑four percent of CEOs expect to pursue M&A over the next one to two years, using deals to buy scale, capabilities and intellectual capital rather than waiting for market stability. The article flags governance and board readiness questions boards should address before M&A activity accelerates.

Key Points

94% of surveyed CEOs plan to pursue mergers and acquisitions in the next 1–2 years, per the Oliver Wyman Forum survey.
Many deals will target capabilities and intellectual capital: 42% overall, with higher rates (54%+) among the largest companies and fast‑changing tech sectors.
Boards must agree with CEOs on a clear target‑selection process, rigorous due diligence and whether to bring in M&A‑experienced directors or advisers.
Shared clarity on the purpose of a deal — expected synergies, market impact and changes to the business model — is essential for board approval and shareholder communication.
Mergers change board composition and dynamics; directors should assess whether their skills remain a fit and whether new board seats or roles are needed post‑transaction.

Content summary

The Oliver Wyman Forum survey shows CEOs are becoming proactive buyers of growth, converting disruption into competitive advantage by acquiring scale and new capabilities. Ana Kreacic of the Forum notes CEOs are no longer waiting for stability before acting. The article suggests practical questions boards should be asking now: Have you agreed the selection and due diligence process? Do you and management share the same rationale and expected benefits? How will board membership and director fit change after a deal?

The piece emphasises that poor target selection or weak governance during M&A can harm long‑term performance. It recommends assessing the CEO’s and directors’ M&A experience, involving cross‑functional input (finance, legal, human capital) and considering outside advisers or new directors with relevant deal expertise.

Context and relevance

With such a high proportion of CEOs signalling imminent M&A activity, boards face an urgent governance test. This trend ties to wider market dynamics: technological disruption, consolidation for scale, and the need to buy capabilities faster than they can be built internally. For directors and senior executives, preparedness affects strategy, risk oversight, integration planning and shareholder relations — all central to value creation or destruction in a deal environment.

Why should I read this?

If you sit on a board (or work with one), don’t scroll past — CEOs are gearing up to buy, not wait. This is a quick, practical checklist-style wake‑up: sort your selection process, dust off your due diligence playbook, and think about whether your board has the right muscle for M&A. Short read, big implications.

Author style

Punchy — the article flags a clear governance alarm bell. It’s concise and action‑oriented: boards should treat the survey’s 94% figure as a call to align process, purpose and personnel before deals land on their desk.