Company leaders should draw a leaf from the recently released letter to shareholders by Jamie Dimon(pic), the CEO of JP Morgan Chase, the largest bank in the US. In it, he squarely focused on the coronavirus pandemic and its impact on the company and the economy.
WE are being told to be transparent and honest about our brushes with Covid-19.
Failure to do so is becoming a crime and rightly so.
But the same level of transparency and openness needs to take place in the corporate world.
Company leaders and their boards have a duty to inform their investors to the best of their abilities, how this current crisis is impacting their business.
Instead what we are seeing now is a dearth of such information coming out of our locally listed companies.
Some are posting their results late. And even when they do post their earnings, the level of guidance on how the crisis is going to impact their bottom line is very poor.
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