Boards in the Time of Crisis
By Scott Chase and David Shaw

The COVID-19 pandemic illustrates the risk-oversight challenges facing companies and their boards. We asked directors to reflect on early lessons learned and offer leadership advice for their governance colleagues. 

 

The unfolding COVID-19 crisis is very much like watching 9/11 happen in slow motion. We know it’s bad, and that it will get worse, but we have no clear indication of when we will reach the apex of the crisis and can begin to recover. We hope that by the time this issue of Directors & Boards arrives in your inbox and mailbox, that there may be some more clarity on this.

In the meantime, however, there are some questions that have emerged from this crisis, and directors must consider them even without knowing the final shape and scope of the damage the pandemic will bring to people, companies, economies and countries:

  • Have we been so efficient in running our companies that we’ve reduced our ability to effectively manage risk?
  • Conversely, can you sock away enough cash and redundancy to ever be able to weather these big storms?
  • What kind of leadership and inspiration can boards provide now?
  • What questions must boards ask and answer after the crisis?
  • How should we manage risk in the future?

Here, you’ll find the beginnings of answers — or, at the very least, the beginnings of discussions that might lead to answers.

Butterflies in New Mexico
The world community does not seem prepared to accept panglobal authority in the face of panglobal crises.
By Norman R. Augustine

COVID-19 and Leadership
Boards have a unique opportunity to help companies mitigate stress in their management teams by providing inspiration.
By Kathy Hopinkah Hannan

A Leadership Q&A With Stan Silverman
By Scott Chase

Risk Management and the Board
Lessons learned from the COVID-19 crisis.
By Brad Oates

The Key Challenges Boards Face Now
Some early lessons from India as it faces down COVID-19 illustrate what boards — and companies — are focusing on.
By Punita Kumar-Sinha

 

 


Other related articles

  • Are SPAC Board Structures a ‘Conflict-Laden’ Invitation to Fiduciary Misconduct?
    Published June 16, 2021
    By Frank M. Placenti
    Without a doubt the trendiest transactions on Wall Street during 2020 and the first half of 2021 were the formation of special purpose acquisition corporations SPACs and the followon mergers known as ...
  • SASB and IIRC Merge to Create Consistent ESG Reporting
    Published June 10, 2021
    By April Hall
    As shareholders employees and other stakeholders bring ESG to the fore directors and management have lamented that there are no consistent measurable standards by which to measure corporate efforts an ...
  • What Management Really Thinks About the Board and What to Do About It
    Published June 09, 2021
    By Paul Washington and Paul DeNicola
    For many companies 2020 was a transformative year and while that was positive for some boards and management teams some fault lines were also exposed A survey of more than 500 Csuite executives by PwC ...
  • Climate Governance at an ‘Inflection Point’ for Big Oil
    Published May 29, 2021
    By April Hall
    In the matter of 24 hours ExxonMobil lost at least two board seats UPDATE Engine No1 gained three seats to activist investors Chevron shareholders pushed for that company to reduce its emissions and a ...