Challenging time for board of directors amid coronavirus outbreak

The board should immediately address the issue of succession for the CEO and other critical positions to ensure a seamless continuation of each critical function

The Covid-19 catastrophe is disrupting every facet of the social and economic environment like never before. Humanity is struggling for survival against a natural disaster, whose strength to damage humanity is yet unknown. As always, humanity will win and will bounce back with new learnings because of its resilience. A new normal will emerge after the crisis is over. Only resilient and anti-fragile companies will succeed in that new environment.

The board cannot leave the responsibility solely to the CEO for steering the company in this crisis and preparing it for succeeding in the new normal. Similarly, the CEO should proactively