THE MODERN CEO: ADAPTING TO A TIME OF CRISIS

摘要

The financial crisis in 2008-2009 catapulted many businesses into a new era of increased scrutiny and regulatory oversight. It highlighted issues in corporate governance and decision making, and pushed to the fore areas where drastic changes were needed. Today, as the spread of the novel corona-virus (COVID-19) once again forces businesses to think critically about their resilience, the CFO has a vital role to play in steering companies through these uncertain times. The arrival of COVID-19 profoundly affected all aspects of personal and professional life within a few short months. From social distancing to stay-at-home orders, furloughs, job losses, and in some cases administration and bailouts, the impact of the pandemic on individuals and the broader economy has been substantial. Payroll numbers from the U.S. Bureau of Labor Statistics (bls.gov) make for sobering reading, and the April 2020 Duke University/CFO Global Business Outlook survey (bit.ly/36ja3Il) places CFO confidence at a low not seen since the Great Recession of 2008. Finance directors are poised for a prolonged period of disruption and adjustment.