In the final session of our live daily Morning Calls on the coronavirus (COVID-19) emergency, Edmond FitzGerald and Kyoko Takahashi Lin, partners in our Executive Compensation Group, discussed corporate leadership and compensation issues during the crisis. The discussion included and was moderated by Nora Jordan, a partner and head of the Investment Management Group.
Topics they discussed included:
- The need for companies to review their emergency succession plans given that a number of executives could potentially become ill with COVID-19 at the same time
- Changes that some companies are making, and others are considering, in the areas of executive pay and incentive compensation programs
- Compensated-related provisions in the Senate-passed CARES Act, including funding for state programs for furloughed employees and limits on executive compensation at companies receiving the new government aid
Related content on Davis Polk Coronavirus Updates includes:
- Economic Stabilization: Senate Passes CARES Act
- Families First Coronavirus Response Act: Key Takeaways Regarding Paid Leave Benefits
We hope our live Morning Calls this week on the coronavirus crisis have been helpful for clients and other listeners. Going forward, we will be augmenting the written insights on our website with pre-recorded audio segments.