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Corporate Governance implications of COVID-19: Does the Board have a magic wand?
The times we face are trying, utterly unprecedented and marked by absolute unravelling uncertainty. The situation at hand is extraordinary, for Boards, Directors and Corporate Governance. The speed with which the pandemic is spreading and its gigantic proportions have impacted every aspect of business across the Maltese Islands.
Running a business, any business, in the midst of a pandemic is an unprecedented challenge for business leaders in Malta, and for those in the supply-chain overseas. IoD Malta was a significant contributor to the MFSA's recent 'Stakeholder Consultation on Corporate Governance'. The MFSA has highlighted in its 'Consultation document' that business continuity management is integral to good corporate governance.
The restrictions imposed by the Maltese Government and other governments around the world in handling the COVID-19 outbreak raise significant challenges as regards corporate governance.
Many businesses are implementing remote working arrangements in an effort to maintain continuity of service and to provide valued members of staff an opportunity to contribute to the business. Only 8 weeks into this pandemic, many companies are having to take very difficult decisions. COVID-19's impact is in every aspect of business. Our speakers will speak to the issues and share their thinking and possible solutions.
What can IoD webinar attendees expect?
As ever, a crisis creates opportunity as well as threat. The opportunity to do things differently, to re-build a better business: one that is more efficient, fixing issues we had let lie, and creating a genuine robust and sustainable culture. A business built around the needs of all stakeholders and the team.
This is a focussed 59-minute session. What you will get is:
- A walk through the challenges facing business leaders during COVID-19
- Ways to strengthen how the Board communicates and collaborates with the executive team
- Understand better how Chairs and CEO's can work together
- Find out what strategy can contribute to dealing with the crisis
- Use Corporate Governance as a tool to weather the storm
- Q&A.
The Institute of Directors Malta Branch (IoD) is a business organisation for company directors, senior business leaders and entrepreneurs. IoD has become the foremost business organisation in Malta working on corporate governance education, events, workshops, training and has become the trusted partner of all key institutions on Corporate Governance issues – Ministry of Finance, MFSA, MSE, Central Bank, FinanceMalta, Chamber of Advocates, Malta Institute of Accountants, and many others.
The IoD’s mission is free enterprise, entrepreneurialism, wealth creation and good corporate governance, and represents the views of businesses and IoD members in the media and with government. Members of the IoD come from companies of all sizes and from all industries in Malta. IoD gives them a voice on director issues.
IoD Malta forms part of The European Confederation of Directors Associations (ecoDa) in Brussels to contribute towards European corporate governance issues. ecoDa represents around 55,000 board directors from across the EU. ecoDa’s member organisations represent board directors from the largest public companies to the smallest private firms, both listed and unlisted, with a mission to promote the role of directors, to develop professionalism and European governance standards.
A growing number of research studies document the relationship between corporate governance and triple bottom-line performance.
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