Companies need boards built to exercise collaborative oversight with diverse skill sets.

The pandemic and other recent events are presenting new challenges for public and private companies alike, from supply chain risks to heightened shareholder concern about environmental, social and corporate governance issues. Many large organizations will need to rethink their board makeup in the new normal. The background experience and knowledge that have traditionally been sought after in board directors may not be sufficient to lead today's companies into the future.

Recently, Directors & Boards hosted a series of once-a-day, one-hour webinars addressing the board's role in rebuilding the company and the economy from the COVID-19 pandemic, from the editors of Directors & Boards and Private Company Director magazines. Each day's session featured key directors and thought leaders in conversation-style discussions that address key aspects of the recovery process.

Board Considerations: Returning to the Workplace and Navigating the “New Normal”

Monday, June 1, 2020 2 p.m. ET

Few firms were prepared for the black swan named COVID-19. The ferocity of the attack of this virus surprised even the most vigilant of organizations. But some firms will emerge stronger as the shock waves ebb and the extreme uncertainty from lockdowns, economic slumps and frozen markets abates. These resilient firms will absorb the shock waves thanks to bigger cash buffers and superior market positions, and can capitalize on their vigilance advantages to pull farther ahead.

'In crisis there is opportunity'

As companies seek to understand and react to the particular ways in which the coronavirus pandemic may imperil their employees, operations and financial condition, there are certain key considerations that directors will likely be addressing as they, working together with management, support a variety of stakeholders through a time of unprecedented uncertainty. Among the key areas of focus for the directors are: