A BRAVE NEW WORLD: Top 10 Topics for Directors in 2021 KERRY BERCHEM, DANIEL WALSH, JOHN GOODGAME, JEFFREY KOCHIAN LUCAS TORRES, ALICE HSU, GARRETT DEVRIES, AND FRANKLIN REDDICK AKIN GUMP STRAUSS HAUER & FELD LLP
The world has changed a lot since our 2020 report. A global pandemic; an ongoing reckoning on race, inequality and social justice; a climate crisis; an economic shock; and increased political polarization have created challenging dynamics for
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companies and boards globally. The role of the
restrictions, but surging infection rates paused
unchartered territory facing businesses in this
directors and management must proactively
area, it is imperative for board members to take
embrace their stewardship roles in this brave new
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ness operations. Over time, states relaxed these
on a moment’s notice. Given the complexity and
interlocking issues and offers insight on how
The 2021 Georgia Senate runoff
closing or severely restricting nonessential busi-
to emergency state and local orders and pivot
This report delves into these wide-ranging and
2020 ELECTION IMPACT AND ANTICIPATED CHANGES
ity of states implemented “stay at home” orders
reimposed. Companies need to be ready to adapt
ahead is more critical today than ever before.
in style. You can find the in-depth report here.
At the beginning of the pandemic, the vast major-
many reopenings, with business restrictions
board in managing risk and charting the course
world. These excerpts have been edited for length
COVID-19: LABOR IMPLICATIONS
an active role.
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DIVERSITY AND INCLUSION In today’s workplace, corporate social responsibility has taken center stage and is swiftly becoming a business imperative. Events such as the horrible death of George Floyd have shined a spotlight on racism and implicit bias.
elections resulted in a seismic shift on
While stakeholder requests for diversity infor-
the federal policymaking front, cementing
mation are not new, the pressure is mounting
Democratic control of the Senate with a 50-50
as more and more companies disclose their
divide and Vice President Kamala Harris able
Equal Employment Opportunity data and make
to cast the tie-breaking vote for Democrats. As
public commitments to increase the represen-
a result, Democrats now have unified control
tation of minorities and women. Many compa-
in Washington – winning the White House and
nies are implementing wide-ranging diversity
narrowly securing majorities in the House of
and inclusion programs, often accompanied by
Representatives and Senate.
public proclamations about achieving certain minority representation goals within a set
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While Democrats will be driving the agenda,
timeframe. There is risk in well-intentioned
close margins in the House and Senate will im-
efforts to promote diversity in the workforce,
pact the entire policymaking landscape and likely
which may expose an employer to liability for
will contribute to a robust regulatory agenda.
reverse discrimination.
MARCH • APRIL 2021
