Calendar of Events

• Date: 01 November 2020
• DOI: http://doi.org/10.1002/bl.30175
• Published date: 01 November 2020

Mitigating Risk and Volatility –

A Conversation about Boards

and Guiding Businesses

through COVID-19

By Pat Ackerman

Pat Ackerman is chair of Milwaukee Women inc., and senior vice president of

investor relations, corporate responsibility and sustainability, and treasurer at

A.O.Smith Corporation. In this article, Pat presents insights and observations from

a recent panel discussion focused on corporate board efforts to navigate the chaos

and uncertainty businesses face due to the COVID-19 pandemic and resulting

economic crisis.

In November 2019, EY’s Center for

Board Matters released a report

identifying key priorities for boards of

directors in 2020. Even then, concerns

about growth and stability in uncer-

tain times and evolving enterprise

risk management were key priorities.

Others included accelerating the tal-

ent agenda and activating culture as

a strategic asset, embracing ESG as

a business imperative, and redefining

and better communicating long-term

value.

While COVID-19 has drastically

changed how we conduct business

today and will have a continued impact

well into the future, all of these priori-

ties remain relevant. To address these

priorities and the new world of busi-

ness today, corporate boards of direc-

tors across the country are reflecting

on how to best manage the risk and

volatility associated with the uncer-

tainty in which we live.

Recently, Milwaukee Women inc, an

organization of professional women

determined to change the face and

quality of leadership in the Wisconsin

business community by increasing the

number of female corporate directors,

hosted a frank conversation with EY’s

Center for Board Matters and two

business leaders and current board

directors about the challenges their

boards are facing, how they are man-

aging through them and planning for

the future, and lessons learned over

the past six months.

Following are key insights from the

conversation between Cigdem Oktem,

regional leader of EY’s Center for

Board Matters, who served as modera-

tor, along with:

•Michelle Kumbier – former

chief operating officer of Harley-

NUMBER 172, NOV.–DEC. 2020

www.wileyonlinelibrary.com/journal/bl

BOARD LEADERSHIP

INNOVATIVE APPROACHES TO GOVERNANCE

View this newsletter online at wileyonlinelibrary.com

Board Leadership • DOI: 10.1002/bl • Nov.–Dec. 2020

(continued on page 2)

ALSO IN THIS ISSUE

Food for Thought .............3

Board Effectiveness Begins

with Director Selection .........4

How Boards & Board Members Can

Leverage Social Media to Promote

Their Organization’s Mission .....6

CALENDAR

OF EVENTS

December 1-3

Conference Board Leadership

Excellence Course and

Executive Coaching

Virtual Course

According to organizers, hard

skills such as planning, finance, and

analysis that were paramount in

years past are now just a fraction of

the many skills executives must now

possess. In today’s global economy,

soft skills like good communication,

creativity, collaboration, and the

ability to motivate are requisite to

leadership.

The Conference Board Lead-

ership Excellence Course aims

to empower attendees with a

multitude of new skills along with

a contemporary perspective on

leadership. This three-day course

will offer a journey of self-discovery

to uncover what kind of leader you

want to be.

Attendees will come away with:

•A clear understanding of

their personal leadership

philosophy.

•Strategies for building high-

performance teams.

•Steps to align and accomplish

organizational goals.

•Ways to build influence

with boards, shareholders,

stakeholders, and colleagues.

•Processes for setting priorities

and creating clear action plans.

•Techniques to inspire and

(continued on page 8)