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Home / Business

Deloitte NZ CEO Mike Horne on economic pain and staying true to yourself

NZ Herald
22 Jan, 2024 11:45 PM4 mins to read

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Deloitte New Zealand chief executive Mike Horne says one of his greatest career successes has been staying true to his Southland roots.

Deloitte New Zealand chief executive Mike Horne says one of his greatest career successes has been staying true to his Southland roots.

As one of the “Big Four” accounting firms that helps businesses of all sizes with strategy, risk assessment and financial affairs, Deloitte New Zealand’s chief executive Mike Horne has a front-row seat to the success or strife of businesses.

Throughout last year he was one of the more circumspect executives, worried that New Zealanders had “lost our mojo” pre-election, and warning that more economic pain might be around the corner.

But as he prepared to travel to Africa with his family, Horne was mildly optimistic.

The proud Southlander tells the Herald about his hopes for business under a new Government.

What are your hopes for the new Government?

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That it is clear and deliberate on the areas of focus (for me, health, education and infrastructure are key as they are also primary enablers to equity and productivity), prioritises execution over rhetoric and recognises the need for some hard choices.

I think an outward/externally oriented mindset and real connectivity beyond our shores are also important.

How would you describe 2023 for your business?

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More muted and nuanced than the prior couple of years, where there was real demand coupled with supply and talent challenges.

Some parts of our business still had a lot of opportunity, for example digital transformation, move to cloud, AI, cyber, regulatory change and adaption, but in other areas it has been pretty flat.

Key for us was being deliberate with our areas of focus, which ultimately comes down to client needs and talent development.

What will be your biggest business challenges in 2024?

The market will remain pretty challenging, albeit I expect investment intentions to pick up in the latter part of the year.

Matching talent and capability requirements in a more fluid market is top of mind.

What opportunities do you see in 2024?

Challenge brings opportunity – so I think a flatter market provides a real platform for us to look at the efficiency of our business, be more singular in our choices, while keeping an eye on the horizon, with the major transformations being brought about by decarbonisation and AI being of particular interest.

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What was the most interesting news story of 2023?

Emergence of generative AI and, most recently, how that has played out with Sam Altman. That was also a really interesting interplay around visionary leaders, followship, and who really owns intellectual property, ideas and potentially “controls” company value.

What are your predictions for 2024?

I think it will still be a pretty bumpy first six months or so at least.

There is still a fair bit of economic restructuring and debt normalisation to work its way through, and the global environment remains pretty uncertain.

However, I am cautiously optimistic for the latter part of the year.

I do think, more broadly, that the medium-term outlook will be characterised by more regular shocks and thus we need to be increasingly adaptable and connected to navigate our way through.

What’s the worst mistake you have made in business?

I have made lots of mistakes as that is part of learning, but perhaps my biggest mistake or regret has been not always taking every opportunity on offer and backing my gut feel.

What would you rate as your greatest success?

Knowing what I am good at, what I’m not and finding other people that can provide that balance.

Also, while I think I have grown and evolved in my career, I believe that, at heart, I’m still the same guy from down south who is pretty genuine and doesn’t see himself as without flaws of his own!

Where and how are you holidaying this summer?

We’re off to Africa – splitting our time across South Africa, Botswana and Zimbabwe.

We have some family over there but we’re also really looking forward to a bit of time on safari, some adventures in the outdoors and just some active R&R together.

What would you recommend as a good book to read over summer?

I just finished The Art Thief, which a mate had recommended to me. I don’t have any particular interest in art (and certainly no capability) but found it a really interesting insight into a different world, what motivates people, and the talent and creativity of the human mind – albeit not saying this was the best use of it!

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