Insight has teamed up with our portfolio company, Diligent, to host a modern twist to a book club. Instead of selecting a book to discuss, we will host a conversation around the A View on COVID-19: Governance from the Cockpit episode of Diligent's "The Corporate Director" podcast.
In this podcast, the hosts interview Alex Wolff, a 34-year veteran of the US State Department, who now serves on the boards of Albemarle Corporation, PG&E Corporation, and two airlines. Wolff shares his insights on governance through the COVID-19 crisis, tips for boards on crisis leadership in general, and his predictions for what the world will look like beyond the pandemic.
Podcast Host and Executive Director of the Diligent Institute, Dottie Schindlinger, will be leading this digital event and sharing additional information from her research on corporate governance during times of crisis.
What advice does Wolff have for directors about crisis leadership during COVID-19? Avoid micromanaging or reinventing the wheel. Be open to learning and new opportunities.
What can boards do to anticipate and stay ahead of such situations? Wolff recommends leveraging on-the-ground insights, reading up on world affairs, and keeping in touch with customers, suppliers, regulators, and other stakeholders.
How will corporate governance look different in the years ahead? As the “democratization of decision-making” continues, boards should prepare for more scrutiny and engagement, especially related to parties outside of the boardroom.