Sidley's "Managing the COVID-19 Crisis" outlines a crisis management framework for the board and management encompassing heightened communications and virtually real-time knowledge-sharing among the board and key members of management that support a realistic ongoing evaluation of potential short and longer-term disruptors, as well as strategic business opportunities. Suggestions include establishing a regular cadence for management meetings and board meetings, which may in this case be daily and weekly meetings, respectively. The instructive memo also suggests a multi-spoked stakeholder communications plan that includes employees, customers, the board, legal team, IR, and experts in international jurisdictions, if relevant. See our recent report: "Crisis Management Response."
This post first appeared in the weekly Society Alert!