The Impact of COVID-19

Authored by David Hobbs, Senior Editor, Criticaleye

With supply chains stretched to breaking point and workforces displaced, business leaders are under intense pressure. Criticaleye speaks to market experts and Board Mentors to understand the steps they are taking to navigate the uncertain route ahead.

Featuring commentary from:

Samantha Barber, NED, Scottish Water: It’s important to try to maintain business as usual while making adaptations to ensure we do that safely. There’s a lot of space for innovation and creativity.

Matthew Blagg, CEO, Criticaleye: What you shouldn’t do is needlessly cut – if you do, you’ll survive this first phase but not what comes next.

John Greenland, Partner, Jamieson Corporate Finance: One big shift has been a reduction in the number of covenants on debt, which gives companies breathing space when it comes to volatility.

Alastair Lyons, Chair, Glas Cymru (Welsh Water): Be as open as possible in your communications about things that are known and can be talked about. For the unknowns, you must be honest with people.

John Shelley, Independent NED, Standard Chartered China: You have to accept that people might not express themselves tidily or politely. They might have already made a few questionable decisions.

Sandy Stash is a NED of businesses including Diversified Gas & Oil: The worst thing businesses could do is think they are exempt. Every organisation in the world needs a short, medium and longer-term plan.

Marcus Stuttard, Head of AIM and UK Primary Markets, London Stock Exchange: Companies that are better at communication and building trust with investors are the ones that are more able to go back to them and raise further capital if they need to.

Bala Swaminathan, Chair, S Cube Capital: For business leaders, it is crucial they are seen to lead from the front. Chief executives should be taking large salary cuts and zero bonuses until normalcy returns.

Mike Tye, Chair, Moto Hospitality Group: It’s a potentially classic situation of act in haste and repent at leisure. There’s massive pressure between acting now and doing what’s right for the longer term.

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