Pay decisions are framed by a unique crisis

December 2020

The coronavirus-induced economic crisis reshaped the financial performance of companies across all industries, albeit in different ways. Some companies suffered sustained shutdowns or slowdowns that led to severe underperformance; in other cases, business stabilized or even exceeded goals or expectations. These unusual conditions create challenges for boards and their compensation committees as they evaluate and reward company leaders who, in many cases, took extraordinary steps to steady their companies during this period.

On November 23, 2020, CCLN members discussed the crisis and its impact on 2020 compensation plans and 2021 goals. Separately, members were joined by Matt Miller, vice president of government relations for Business Roundtable, for an off-the-record session on post-election implications for corporations.