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An advocate for bold decision making

Interview with Pieris Markou, CEO, Deloitte Cyprus

What are the main challenges for a business leader today?

Today’s business leaders face unprecedented challenges, including rapid technological advancements, geopolitical uncertainty, and evolving stakeholder expectations around sustainability and social responsibility. Successfully navigating digital transformation while maintaining agility andresilience is critical.

For our industry, not only attracting and retaining talent in a transforming and increasingly competitive market remains a key challenge but, equally important, the increasingly complex and changing regulatory environment continues to be an area requiring critical attention.

What's been the biggest influence on your leadership journey?

The greatest influence on my journey has been Deloitte itself. Over 30 years with the firm, I have been fortunate to have been given the opportunity to pursue a career full of opportunities, diverse projects and client engagements that provided invaluable experiences that allowed me to grow and develop. My years as a Partner were particularly inspiring, as the exchange of knowledge and ideas with my peers has allowed me to learn and grow further, preparing me for the CEO role.

Being part of and collaborating with Deloitte’s global network has also profoundly shaped my leadership approach. During the last four years, serving as CEO and being part of the Deloitte Middle East Executive, has provided me opportunities to further broaden my perspective and deepen my understanding of the complex challenges our organisation and industry faces.

What are the values or guiding principles that help shape your most important decisions?

Integrity, fairness, and transparency, in all our dealings, whether with colleagues, clients or even friends.

I firmly believe in prioritising long-term value creation over short-term gains,

ensuring decisions align with ethical standards and positively impact our community.Equally important is fostering an inclusive environment where all voices and opinions are heard and respected. I am also an advocate for bold decision-making while maintaining a client-centric mindset.

Can you share an example of a bold decision or risk that paid off – or one that failed but taught you aninvaluable lesson?

There isn’t a single defining moment but rather numerous instances where bold decisions were necessary, both before and during my tenure as CEO. While I value and genuinely appreciate the, often diverse, opinions of my leadership team, in the end the weight of the final strategic decisions often falls on me. Each one of these decisions have been invaluable, regardless of outcome.

As you scale, how do you reconcile the pressure for rapid growth and profitability with the need to act responsibly?

Profitability and responsibility are not mutually exclusive but complementary when guided by strong governance and stakeholder engagement. At Deloitte, we have long recognised that sustainable growth – not just growth and profitability – is the real path to success and have embedded responsible practices in our growth strategy. Our pledge to sustainability is also evident in our corporate responsibility and sustainability programme, and our commitment to support initiatives and local NGOs that share our vision and align with our WorldImpact pillars.

If you could change one thing about the Cypriot business environment, what would it be and why?

I would advocate for enhanced collaboration between the private and public sector to create even greater efficiencies. This would be especially useful in areas such as digitalisation and regulatory frameworks that foster innovation and entrepreneurship. Such collaborations could further accelerate Cyprus’s competitiveness and attract more diverse investment, benefiting the broader economy.

Looking ahead, what excites you and what concerns you most about the future of your industry?

I am excited to see that our industry has evolved beyond traditional accounting to encompass a broad advisory spectrum, covering all domains of the advisory sector. What is particularly inspiring is how our profession will develop and how emerging technologies and AI will transform business models and create new opportunities. Such changes also create concerns and challenges, including ensuring ethical use of technologies and managing associated risks, including cybersecurity and data privacy. Another ongoing concern remains on how we continue to attract and retain top talent in this dynamic and competitive environment, aligning with the needs and expectations of the new generations.

What personality keeps you inspired to continue growing as a leader?

I draw inspiration from leaders who combine vision and perseverance, like Steve Jobs who envisioned to transform the world. Through his creativity, patience, and persistence he made a profound impact on people, businesses and our everyday lives.

What qualities do you believe the next generation of leaders will need to thrive? And what advice would you offer them as they step into leadership?

Future leaders must be agile, inclusive, and purpose driven. They should embrace diverse perspectives, be comfortable with ambiguity, and be ready to take bold decisions when necessary. Creativity and learning from past experiences are also crucial, as well as drawing from their own and others’ experiences to guide their decisions. At Deloitte, our shared vision to drive positive change in our industry and business environment is something that continuously inspires me and motivates me to keep pushing forward.

My advice to our next generation leaders is to ensure you build a strong, trusted team, to lead with authenticity, foster collaboration, and to never stop learning.

What do you hope to leave as a legacy for your industry, your community and the next generation?

I hope to leave a legacy of integrity, innovation, and positive impact—building Deloitte Cyprus into a firm that not only drives business success but also contributes meaningfully to society and inspires future leaders to do the same. For our industry, I aspire to create an environment that attracts top talent and the respect of the business community. For the community, I envision a culture of care and equality. And for the next generations, I hope to instil a sense of pride of belonging.

IN BRIEF

Leadership means: Responsibility

Success means: Leaving a legacy

Your biggest strength: Decisiveness

Your biggest weakness: Frankness

What daily habits or routines help you lead effectively? Early starter

What’s the first thing you do in the morning? Read the news headlines

What’s the last thing you do before bed? Check the next day’s schedule 

Do you delegate or prefer to do it yourself? Delegate

Office or work from home: Office

Who do you turn to for advice or perspective when facing tough decisions? My leadership team 

Is there a leadership book, quote, or principle that has most influenced your career? Not really – just try to be myself

Are you more of a risk-taker or a planner? Risk-taker with plenty of planning

Do you rely more on data or intuition when making decisions? Intuition 

What’s one word your colleagues would use to describe you? Honest and trustworthy

And one word you’d use to describe yourself? Caring

Published in Gold Magazine's special feature: ''Inspiring Leaders''