The Board’s role in the COVID-19 crisis has been saved
The Board’s role in the COVID-19 crisis
COVID-19 - a global human, societal and economic shock
COVID-19 has spread all over the world, with some countries slowly returning to business as usual, others that continue being impacted, and those that are only in the beginning stages of dealing with the global pandemic.
As a board director, no doubt you are feeling the ripple effect on your business. A good board response is likely to be deeply rooted within the understanding of the role of the board – knowing when to step in and when not, as an example. In our article, we share some of our thoughts on the board’s role during the COVID-19 crisis including: when the board should intervene; when to execute on succession plans; communications with shareholders; reviewing crisis plans; and the role of the Chair in a crisis. This article delves into these considerations and provides key insights into questions that the Board should be asking in these trying times.