“You have to lead from in front,” says the chairman of Esteé Lauder, whose board both exemplifies and helps cultivate the company’s commitment to inclusion and diversity.
Well governed organizations have vastly overperformed poorly governed ones during the pandemic. Despite the vast difference in context, this is an exact repeat of the 2008 crisis. So why has governance become such a key differentiator?
To avoid being a target, boards need to take a more active role in risk mitigation and must refresh before activists demand it.
“Focus on the things you can control,” says Ellen Kullman, who, as lead director of United Technologies, helped guide the company during a tumultuous transformation.
A recent poll of public company directors identifies the critical skills needed to enable growth and sustainable performance at the board level in the post-Covid business world.
The Covid era will cause many boards to enhance their HCM oversight and voluntarily discuss more about their efforts.
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