Why political uncertainty is a career-defining moment for aspiring CEOs

From ServiceNow CEO Bill McDermott to JPMorgan’s Jamie Dimon, top executives are sounding the alarm on current political uncertainty. “Business doesn’t like uncertainty, capital markets don’t like uncertainty, and there is a lot of uncertainty,” McDermott told the Wall Street Journal, echoing Dimon’s remarks to Semafor: “Uncertainty is not a good thing.”

While political and economic uncertainty often disrupts planning, delays investments, and increases market volatility, it also presents strategic opportunities—especially for leaders with C-suite ambitions.

Take Citigroup CFO Mark Mason. In a 2023 interview with Fortune’s Sheryl Estrada, he recalled a career-defining moment during the 2008 financial crisis. As CFO and head of strategy and M&A for Citi’s global wealth management division, he led the successful joint venture between Smith Barney and Morgan Stanley—an achievement that ironically left him without a role. As he weighed external opportunities, then-CFO Gary Crittenden called him with a piece of advice: “Mark, careers are defined in times of crisis.”

“In many ways, he was right,” Mason reflected.

For aspiring CEOs, uncertainty offers a high-visibility chance to step up, tackle complex problems, and prove their ability to lead through volatility. Crises create leadership gaps, paving the way for those willing to take on restructuring efforts, strategic pivots, and risk-intensive roles. Those who can spot trends, anticipate industry disruptions, and drive transformation—from AI adoption to regulatory shifts—can outmaneuver risk-averse executives and fast-track their rise to the top.

This advantage is particularly strong in politically sensitive industries like defense, health care, and telecommunications. Research backs this up: Julian Atanassov, associate professor of finance at the University of Nebraska-Lincoln, and others found that companies often increase R&D investments during uncertainty, viewing them as strategic growth opportunities.

“The most important lesson [for leaders] is don’t despair. Use this as an opportunity to strengthen your competitive advantage,” Atanassov told me. Sharp, opportunistic leaders can capitalize on today’s market turbulence and unpredictability by developing cost-effective products to offset tariffs or diversifying into new markets.

And if all else fails, he added, there’s always another form of strategic positioning: take a page from Apple CEO Tim Cook’s playbook and forge strong relationships with policymakers shaping the business landscape.

Ruth Umoh
ruth.umoh@fortune.com

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This story was originally featured on Fortune.com