During the current pandemic you as a board may well be facing a range of problems and issues you have not had to deal with before.
For guidance, we as investment partners have written a series of briefing papers specifically aimed at helping boards of directors.
There is no shame for a board of directors to admit it is in unfamiliar territory facing a financial and operational crisis. The board that had been well composed to thrive in normal market conditions is now likely to be feeling unsure about the business’ future and possibly experiencing personal anxiety.
Given the uncertain economic environment facing many businesses as a result of the Covid-19, maintaining the support of the company’s bankers is likely to be more important than ever. Boards need to ensure that they understand how their lenders view the company and actively manage their banking relationship.