For now, corporate boards prefer to keep the status quo—and the long view—in the face of Covid-19 upheaval.
The scale and pace of change unleashed by the Covid-19 pandemic has no precedent in modern history. How well companies perform depends in part, at least, on their board of directors, the highest decision-making body in the corporate hierarchy. To get a glimpse of how boards have adapted to the new reality, we surveyed 266 chairs, directors and CEOs in 23 countries, mostly in Europe, between May and June. We also conducted follow-up interviews with 23 respondents.
A total of 67% of respondents reported that they were spending more or significantly more time on their board work. Most of it went into informal interactions among board members,
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The role of the board chair has changed dramatically in the past decade, with chairs increasingly held responsible for corporate governance failures. How can board leaders ensure they are prepared for the challenges ahead?