August 24, 2020
To better understand the near- and longer-term implications of COVID-19 for board oversight, business operations, strategy, and priorities, the KPMG Board Leadership Center surveyed more than 300 directors.
The survey results highlight five major themes that may be useful for board leaders to keep in mind as they help guide their boards and companies in the months ahead.
- Boards are bringing a new level of intensity to their oversight.
- In the immediate response to COVID-19, management’s updates to the board have focused on employee health and well-being, financial performance, changes in strategy, scenario planning, and the company’s changing risk profile.
- Management teams and boards are planning now for the longer term (12–24 months).
- COVID-19 has highlighted business plans and practices as well as board oversight processes that may need to be reassessed.
- Long-term value creation and the role of the corporation in society are front and center.