Healthcare workers are on the frontline of fighting COVID-19,
but directors of companies have an equally important task, that of
keeping the wheels turning and helping minimise the damage to the
economy and the livelihoods of their employees, and keeping
otherwise viable businesses intact for when the crisis passes.
How should directors respond to the fast-moving situation and
the challenges posed by assessing and dealing with the impact on
the business?
Company directors have a wide range of responsibilities under
statute, regulation and the common law, and directors should
already be familiar with these. The duty under section 172
Companies Act 2006 to promote the success of the company for the
benefit of its members generally also requires a director to
consider a non-exhaustive list of other matters, including the long
term consequences of their decisions, as well as the interests of
the company's employees, and business relationships with
suppliers, customers
