Breakout Sessions with Facilitated Discussions #1: Hot Topics for VC-backed Company Boards During an Economic Crisis

Portfolio companies that were largely shut down at the beginning of the pandemic must now navigate the myriad obstacles around reopening as well as the prospect of a long recession and additional lockdowns in the coming months. In addition, protests in the wake of George Floyd’s murder have brought demands for racial justice into the spotlight. How has the Black Lives Matter movement and COVID-19 influenced the adoption of inclusive, sustainable, and equitable business practices at portfolio companies? What questions should boards be asking about human capital management, succession planning, and oversight of employee health and safety? How should boards think about executive compensation when valuations are fluctuating and at least some options are going underwater? How can directors stay up to date on the company’s liquidity position and all of the ways the pandemic and recession could impact the organization? And how should directors think about opportunities for growth or renegotiation during the pandemic? This panel will address some of the most contentious issues confronting portfolio company boards and discuss emerging best practices for responding to these evolving pressures.

Reading Materials

• 10 Questions to Guide Boards Through the Pandemic. By Dambisa Moyo. Harvard Business Review. Apil 13, 2020.
• ESG Survey Results. 500 Startups.
• The essence of resilient leadership: Business recovery from COVID-19. A Guide for Board Members. Deloitte. June 2020.
• The Role of ESG in Start-Ups. Morrison & Foerster. May 29, 2020.
• Sharing the Pain. How Did Boards Adjust CEP Pay in Response to COVID-19? By A. Batish, A. Gordon, D. Larcker, B. Tayan, E. Watts, and C. Yu. Stanford Closer Look Series. September 1, 2020.
• Stepping in: The board’s role in the COVID-19 crisis. Deloitte.