The year ahead: a message from the CEO Dear friends and colleagues, A belated happy new year to you all! This is my 11th new-year message to you, but the first to come so late in January. As you know, I have been recovering from a freak accident sustained during an equine leadership course that I attended in Wyoming. I’d like to thank all of you who sent good wishes, and reassure those of you who did not that I bear no grudges towards you. I have had a lot of time to think about what 2025 will bring over the past few weeks. As I say every year, the business environment is more challenging than ever. The only thing we know about the future is that it is coming.