Davos signals a power shift for corporate affairs and communications leaders
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The World Economic Forum annual meeting in Davos, Switzerland, on Jan. 20. Photo: Ludovic Marin/AFP via Getty Images
Corporate affairs and communications chiefs are being treated like principals — not support staff — in Davos this year.
Why it matters: The shift is indicative of the rising influence of the role.
State of play: Executives on the ground tell me this is the most extensive schedule of communications and corporate affairs-tailored programming they've seen in Davos.
Zoom in: Throughout the week, Axios collaborated with Burson, Brunswick, Teneo, Stagwell and Page Society to host several meals and receptions for comms chiefs.
- CNBC hosted a communicators breakfast, as did Lightspeed. Semafor partnered with FleishmanHillard and Edelman partnered with Bloomberg to host dinners, while Fortune and Philip Morris International and Weber Shandwick and the Financial Times held lunches and FGS and Prosek Partners hosted receptions.
- WEF also hosted a CCO council event for its members.
What they're saying: "Rather than another conversation about transatlantic relations, we wanted to provide corporate affairs leaders with practical advice about how to communicate and advocate in Washington today — lessons learned from the first year of Trump's second term, what's worked for companies, what hasn't," says Geoff Morrell, Teneo president of global strategy and communications.
- "Based on how lively the discussion was, the topic is certainly timely, and the insights shared truly appreciated."
Between the lines: For many of these hosts, convening comms chiefs could be viewed as opportunistic.
- Publishers want access and partnerships, while PR agencies want new business.
Yes, but: The fact that so many communicators are even on the ground in Davos speaks to the growing importance of the role.
- Corporate affairs and comms leaders are often tasked with making sense of geopolitical chaos, polarized culture and a fragmented information landscape, then weighing the opportunities and risks they present.
Zoom out: A recent Burson study found a direct link between reputation and financial performance, showing the companies with the strongest reputations earn nearly 5% more in unexpected shareholder returns.
What they're saying: "There's been a shift in the way the function is viewed, from support staff to business drivers," S&P Global chief communications officer Christina Twomey says.
- Comms execs are increasingly viewed as "advisers, influencers, decision-makers and relationship builders — and this is what Davos is all about," she added.
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