COVID-19: Reopening and Recovery

COVID-19: Reopening and Recovery

This resource center offers board-relevant guidance to help companies confront COVID-19 and mitigate its business impact. These practical resources are being frequently updated to reflect new developments. 

Oversight of Management's Crisis Response

COVID-19 Board Supply-Chain Risk Checklist (NACD) COVID-19 Board Cybersecurity Checklist (NACD) Checklist for Assessing Management's Crisis Response (NACD) Building Resilient Supply Chains Won’t Be Easy (Harvard Business Review) Corporate Agility for the Future (BCG) FAQ’s and Guidance for Reopening (Fried Frank) Cybersecurity After COVID-19 (Marsh) Succeeding Through M&A in Uncertain Economic Times (PwC) Implications of COVID-19 on Business (McKinsey & Company)

Preserve Board Effectiveness                                

Governance of Distressed Companies (NACD) Anti-Takeover Defenses in Times of Crisis (NACD) COVID-19 Implications for the Risk Committee (NACD) An Interview with Bob Pozen (NACD) Core Audit Committee Responsibilities in a Crisis (NACD) Blue Ribbon Commission Report on Board Oversight of Disruptive Risk (NACD) Back to Work: Protect Directors Too (Harvard Law School Forum on Corporate Governance) Focusing on the Horizon: Actions for Boards (Oliver Wyman) Stakeholder Capitalism and the Pandemic Recovery (Harvard Law School Forum on Corporate Governance) The Urgency of Succession Planning Following the Pandemic (Harvard Business Review) Restructuring: Bringing a New Voice to the Boardroom (Heidrick & Struggles) Board Responses to COVID-19 (Spencer Stuart) Governance Considerations in the Midst of the Pandemic (Deloitte) Director Oversight Duties in the Midst of the Pandemic (Harvard Law School Forum on Corporate Governance) The Board Chair's Role in a Crisis (MIT Sloan Management Review)

Ensure Effective Shareholder and Stakeholder Communications

SEC Filings as a Communication Platform (NACD) CEO Communications with Teams, Stakeholders, and Communities during COVID-19 (McKinsey & Company) A First Look at 'Crisis Pills' (Harvard Law School Forum on Corporate Governance) The Pandemic as a Litmus Test of Stakeholderism (Harvard Law School Forum on Corporate Governance) The Long-Term Investor Perspective Around COVID-19 (McKinsey & Company) Stakeholder Principals in the Era of Coronavirus (Harvard Law School Forum on Corporate Governance) Proxy Guidance on Corporate Governance Policies from ISS and Glass Lewis (Pearl Meyer) Institutional Investors Statement on COVID-19 (ICCR) Navigating COVID 19: Guidance from State Street (State Street Global Advisors) BlackRock Letter to Shareholders on the Pandemic (BlackRock) Poison Pill Prescription: Active Defense Considerations (Harvard Law School Forum on Corporate Governance)

Adjust Executive and Director Compensation Plans

Prepare Director Compensation for Times of Distress (NACD) COVID-19 Implications for the Compensation Committee (NACD) Think Carefully Before Rewarding Executives Who Cut Their Salaries (NACD) Four Operating Principles for Developing Resilient Executive Compensation Programs (NACD) Coronavirus and Compensation: Highly Impacted Industries can Follow the Oil & Gas Playbook (Pearl Meyer) Compensation and Human Capital Actions in Response to COVID-19 (Compensation Advisory Partners) Executive and Director Compensation Reductions: A Review of Russell 3000 Disclosures (Harvard Law School Forum on Corporate Governance) Managing Executive Pay and Incentives in Times of Crisis (Brink News) The Role of Non-Financial Metrics in Adjusting Annual Incentive Programs (Pay Governance) Tracking Changes in Director Compensation During the Pandemic (FW Cook) Setting the Compensation Committee’s Crisis Agenda (KPMG) Directors Stepping up in Times of Crisis (Pearl Meyer)

Relevant Government, Market, and Industry Updates

Board Implications of the CARES Act (NACD) Washington Review: Policy Responses to Coronavirus (NACD) Coronavirus Disclosure Considerations (SEC) COVID-19 Action Platform for Government and Business Leaders (World Economic Forum) Board Oversight in Light of COVID-19 and Recent Delaware Decisions (Sidley) Global Tax Development Updates (KPMG) SEC Guidance on COVID-19 (SEC) State and Local Policy Responses to COVID-19 (Faegre Drinker) Global Policy Responses (U.S. Chamber of Commerce) Federal Reserve Actions Updates IMF Policy Responses Key Business and Legal Updates (Sidley) CARES Act Legislation (Congress)

Adapt to a New Operating Reality and Plan for Recovery

Governance Challenges 2020: The Board’s Role in Strategy Development and Execution (NACD) Top Director Concerns Post-Crisis: Strategy and Workforce Issues (NACD) Adaptability in Crisis (NACD) D&O and EPL Insurance During COVID-19 (NACD) COVID-19 Implications for Lead Directors (NACD) What Directors Should Be Asking Now About Recovery (NACD) COVID-19 Reopening Implications for the Strategic Asset General Counsel (NACD) Board Considerations for Reopening Business (NACD) Boards Must Redefine Enterprise Risk in a Post-COVID Environment (NACD) Lean into Uncertainty to Rebuild Business Resilience Post-COVID-19 (World Economic Forum) Time to Rethink the S in ESG (Harvard Law School Forum on Corporate Governance) How ESG Issues are Being Discussed in the Boardroom Amidst COVID-19 (EY) COVID-19 and Corporate Social Responsibility (Sidley) Effects of COVID-19 on the Global Risk Landscape (World Economic Forum) Directors and the Post-COVID-19 World (Harvard Law School Forum on Corporate Governance)

Oversee Financial Reporting and Monitor Performance

Audit Committee Tool to Assess Internal Control Effectiveness During COVID-19 (NACD) Key Audit Committee Considerations in Light of COVID-19 (NACD) COVID-19: A Review of Recent Securities Fraud Enforcement Actions (Harvard Law School Forum on Corporate Governance) Virtual Board Meetings: Effect on State Taxes (RSM) Capital Allocation Within the Time of COVID-19 (Harvard Law School Forum on Corporate Governance) Coronavirus Considerations on Non-GAAP Measures (Center for Audit Quality) Impact on 10-Q Disclosures in Light of COVID-19 (Center for Audit Quality) Financial Reporting Considerations Following Coronavirus (KPMG) Financial Reporting Updates Through COVID-19 (PwC) Accounting Considerations in Light of COVID-19 (BDO)

Virtual Learning and Programming

What Is the Board's Role in Financial Reporting Oversight? (NACD Webinar) Truth be Told: A Conversation with Dr. Jennifer Kavanagh (NACD Future Fluency) Trust in a Changing World: A Conversation with Richard Edelman (NACD Future Fluency) Reevaluating Short- and Long-Term Incentive Plans During a Crisis (NACD Webinar) Leading from the Heart: A Conversation with Admiral James Stavridis (Part I) (NACD Future Fluency) Planning at Home and Abroad: A Conversation with Admiral James Stavridis (Part II) (NACD Future Fluency) Effective Shareholder Engagement During a World-Wide Pandemic (NACD Webinar) The Current State of Energy and Its Ripple Effect (NACD Webinar) Culture, Care, and Creativity: A Conversation with Dawn Zier (NACD Future Fluency) People and Culture in Times of Change: A Conversation with Johnny C. Taylor Jr. (NACD Future Fluency) From Shutters to Face Shields: A Conversation with Rick Skidmore (NACD Future Fluency) Changing Compensation Programs While Under Lockdown (NACD Webinar)