Covid has pushed us all into ‘terra incognita’ – and that is true especially for the Board. While, before, ‘crisis management’ was regarded by some as a ‘nice to have’, Covid-19 has ruthlessly exposed those Boards without robust contingency arrangements.
Many Boards (quite practically) have increased their CEO’s ‘delegated powers’ to provide for decisive responses to the wide array of operational challenges. But there’s a second initiative that smart Boards also attend to: ensuring that what they have delegated is being done to the Board’s satisfaction.Of course, getting the balance right between letting the CEO get on with it versus exercising oversight is a tricky balance – that’s why being ‘a critical friend’ is so important. Read more about this here: Spare a thought for the overworked CEO