Edward Hult Takes Helm of EF Amidst Global Defense Spending Surge

Dagens Industri reports that billionaire heir Edward Hult has transitioned from a research career to lead his family's global language travel company, EF, as its new CEO. In his first Swedish interview with Di Weekend, Hult candidly discussed the generational handover and admitted to experiencing self-doubt, stating, "I have had a lot of self-doubt about whether I only got the role because I am daddy's boy." The interview also explored a leadership challenge involving a simulated company crisis, his father's advice, and criticisms concerning taxation. Separately, the global defense sector is undergoing its most substantial transformation in decades, propelled by heightened investment and swift technological advancements. This evolution presents enduring and attractive opportunities for investors amid rising geopolitical tensions and nations' strategic reassessment of security. Global military expenditures reached a record $2.72 trillion in 2024, marking the eleventh consecutive year of growth. Europe is rapidly rearming, with NATO members significantly increasing defense spending in response to the war in Ukraine. It is projected that 23 NATO countries will meet the defense spending target of 2% of GDP by 2025, a notable increase from only six in 2021. Germany, Poland, and the United Kingdom are spearheading a significant military buildup. The United States, the world's largest military spender, is pivoting from legacy systems toward modernization. This shift involves allocating greater funding to next-generation capabilities and research and development, emphasizing efficiency and innovation.