The pandemic is creating political and economic turbulence globally, but it is not a corporate governance crisis. Nonetheless, it has radically changed the priorities for Boards internationally, regardless of sector or type of organisation.
The immediate management of the crisis has seen Boards playing a more intense and active role in supporting the executive to keep the show on the road.
With one eye on the short-term immediate priorities, for effective Boards, the crisis has brought several longer-term issues into focus, including:
- The fragility of many business models in the face of major external shocks
- Companies’ responsibility for the health, livelihoods and wellbeing of their employees
- Pent-up anger at social injustice and increased expectations that companies should be making greater progress on diversity and inclusion, as well as environmental issues
In “Board Perspectives from around the Globe”, three alumni from Fidelio’s highly regarded Board learning programme – “A Seat at the Table” – provided insights into Boardroom priorities across Europe, the US and the Middle East.
The scope of Fidelio’s webinar was ambitious and we were joined by Chairs and Directors from across the globe. The findings reflected the very different economic and governance structures prevailing in Europe, the US and the Middle East. But common themes also emerged, including, for example, on diversity with a strong corporate and investor response to Black Lives Matter in the US; Aurora50’s “20 for 2020”, an excellent initiative in the UAE which Fidelio is proud to support; and, in the UK, the Hampton-Alexander Review, which has seen a key target of at least 33% female FTSE 100 Board Directors achieved this year.
Please click here to view the webinar recording.