http://www.strategy-business.com
strategy+business Published by PwC
strategyPwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see pwc.com/structure for f+business (ISSN 1083-706X) is published quarterly by certain member firms of the PwC network. © 2020 PwC. All rights reserved. PwC refers to the urther details. Mentions of
Strategy& refer to the global team of practical strategists that is integrated within the PwC network of firms. For more about S.pwc.com. No reproduction is permitted in whole or part without written permission of PwC. “strategy+business” is a trademark of PwC. Postmaster: Send changes trategy&, see strategyand
of address to strategy+business, P.O. Box 255, Congers, NY 10920. Canada Post Publications Mail Sales Agreement No. 1381237. CaP.O. Box 1632, Windsor, ON, N9A 7C9. Printed in the U.S.A. nadian Return Address:
PUBLISHING
Publisher and Business Manager
Gretchen Hall
Senior Marketing Manager
Charity Delich
Advertising DirectorJudith Russo
[email protected]
Business Operations Manager
Bevan Ruland
Circulation DirectorBeverly Chaloux
NPS Media Group
Production DirectorCatherine Fick
Publishing Experts Inc.
Scan this QR code to get the s+b iPad app.
Editorial and Business Offices
90 Park Avenue,New York, NY 10016
Tel: +1 212 551 6222info@strategy-
business.com
Design ServicesOpto Design Inc.
150 W. 28th Street, 704New York, NY 10001
Tel: +1 212 254 4470 [email protected]
Retail Comag
Customer Service Tel: +1 800 223 0860
Back Issues Tel: +1 703 787 8044
Permissions http://www.strategy-
business.com/press/permissions-faqs
SubscriberCustomer Services
Tel: +1 855 869 4862 Outside the U.S.,
+1 845 450 5210
[email protected]
http://www.strategy-business.com/
subscribe
strategy+businessP.O. Box 255
Congers, NY 10920
strategycontains only paper products +business magazine
that the Forest Stewardship Council™ certifies have
come from well-managed forests that contribute to
conservation and respon-sible management.
Articles published in strategy+business do not
necessarily represent the views of the member firms
of the PwC network. Reviews and mentions of publica-
tions, products, or services do not constitute endorse-
ment or recommendation for purchase.
Chairman, PricewaterhouseCoopers
International Ltd. Robert E. Moritz
Head of Global Markets and Services
Richard Oldfield
Global Chief Marketing Officer
William Cobourn
Global Marketing and Insights Leader
Ilona Steffen
Global Head of Strategy&,
PwC’s strategy consulting business
Joachim Rotering
Head of Strategy& for PwC US
DeAnne Aguirre
Public Communications Review
Ann-Denise GrechMary Valente
Natasha Andre
PwC
EDITORIAL
Editor-in-Chief Art Kleiner
International EditorJeremy Grant
Chief Copy EditorVictoria Beliveau
Art DirectorJohn Klotnia
Opto Design
Executive Editor Daniel Gross
Digital Strategy and Multimedia
Melanie Rodier
DesignersLaura Eitzen
Leigh JagareskiJennifer Thai
Managing Editor Elizabeth Johnson
Deputy Managing EditorSally Law Errico
Contributing Editors Daniel Akst
Cristina Ampil Edward H. Baker
David ClarkeVanessa Desloires
Elizabeth Doty
Senior Editor Laura W. Geller
Deputy Managing EditorMichael Guerriero
Ken FavaroBruce Feirstein
Jeff GariglianoAmy Gibbs
Sally HelgesenJon Katzenbach
Senior EditorDeborah Unger
Associate EditorMichelle Gerdes
Theodore KinniDavid Lancefield
Paul LeinwandEric J. McNulty
Rob Norton James O’Toole
Senior EditorAmy Emmert
Editorial Operations Manager
Natasha Andre
Matt PalmquistJuliette Powell
Jeffrey Rothfeder Thomas A. Stewart
John Sviokla Chrisie Wendin