Director selection in the Covid-19 era

Difficulties in travelling, organising physical meetings and so forth are beginning to take their toll on director selection. Covid-19 has, of course, already radically changed how board meetings are conducted; the impact of pandemic is now beginning to be felt in other areas of fund governance too – including in the processes used to select people for board positions.

Some of this might well become permanent. Techniques that are being used to recruit people to boards since the coronavirus crisis arrived are likely to last long after the disease has gone away (whereas it is close to certain that board meetings will go back to the way they were conducted before March).

When Covid-19 first arrived on the scene a lot of people thought that the disruption would last for a few months only. Therefore, many decided to postpone decisions that would have made in the spring, in the belief that face to face meetings would have returned by the autumn. Fund launches, and selection of independent directors for those funds, was put back to later in the year as much as possible.

To read more on this story see the July issue of The NED