When the dust settles, boards and management teams will have the opportunity to tap into the learnings from their COVID-19 responses in order to reset strategies and build more resilient governance structures that can prevail through future shocks.
– Virtual shareholders’ meetings, which were almost non-existent in Canada prior to 2019, have become the new normal in the COVID-19 era. We examine how the pandemic has changed the landscape of shareholders’ meetings and discuss key considerations for issuers contemplating a move to virtual meetings now and in the future in Chapter 5, Let’s Take This Online: Virtual Shareholders’ Meetings in 2020 and Beyond. – Executive pay has long been a contentious issue, and COVID-19 has accelerated pre-existing trends and introduced new challenges. We explore how public issuers have adjusted their compensation structures in response to unexpected disruptions and provide guidance for boards considering recalibrating their compensation plans in Chapter 6, Executive Decisions: Compensation Trends In and Outside of Times of Crisis. 3. LOOK TO THE FUTURE The urgency required by a crisis like COVID-19 can push long-term objectives to the side. However, adopting a forward-looking mindset will help businesses build resilience against future disruptions and position them for long-term success. The following chapters consider issues that we predict will endure into the next decade.
– Significant events in 2020 have expanded the diversity discussion beyond gender to include race and ethnicity. We discuss the evolving expectations being placed on Canadian organizations and provide practical steps for boards and executive teams to keep pace with the rapidly evolving landscape in Chapter 7, Beyond Gender: Diversity and Inclusiveness Now and Going Forward. – The short-term focus on economic survival in the wake of COVID-19 has not quieted demands relating to ESG matters and calls for sustainable business practices. We discuss the major ESG trends and initiatives that have unfolded in parallel with and, in some cases, in response to the pandemic in Chapter 8, ESG and Climate Change in the Shadow of COVID-19: “E,” “S” & G Are Here to Stay. – Two years into legalization, governance challenges encountered by participants in Canada’s burgeoning cannabis industry can provide instructive guidance on pitfalls to avoid. We analyze three key governance practices that should be considered by startups and those in other emerging growth industries in Chapter 9, Governance in a Nascent Industry: Lessons from Canada’s “Green Rush.”
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Governance Insights 2020
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