Boards must have a long-term risk management strategy in light of global crises: experts

Clemens Mayr says businesses must strengthen and generate trust in distrusting times.

By Julius Melnitzer | June 1, 2023

Beginning with COVID-19, crises and disruptions – geopolitical uncertainty, the Ukraine war, supply chain issues, workplace upheaval, inflation, interest rates, energy transition – seem to be de rigueur. The upshot is that may be time to revisit organizations’ approach to long-term risk management.

“While the day-to-day focus will naturally remain on navigating the most pressing short-term priorities, the current succession of crises has become a huge distraction, and we need to take a deeper dive into the lessons learned from the pandemic if we hope to emerge stronger, better and more resilient in the long term,” says Clemens Mayr, a partner in McCarthy Tétrault LLP’s Montreal office. “And doing so goes to the fundamental role of the board, which is to be the conscience of the organization, help it deal with short-term crises and keep the long game in check.”

To this end, Mayr and his team have developed a non-exhaustive list of topics and issues relevant to long-term challenges. MORE . . .

Julius Melnitzer is a Toronto-based legal affairs writer, ghostwriter, writing coach and media trainer. Readers can reach him at [email protected] or


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