On   January   30,   2020,   the severe acute respiratory syndrome coronavirus 2 (SARS CoV2) that causes coronavirus disease 2019 (COVID-19) was identified by the  World  Health  Organization  (WHO)  as constituting a Public   Health   Emergency of   International   Concern   (PHEIC).   With little information on how to diagnose, treat, and safeguard people against the disease, countries around the world responded to the outbreak differently depending on the national context.

While it was a health crisis, it soon transformed into an economic crisis affecting key corporates involved in the production, logistics, and supply and more seriously to airlines whose services were badly hit by the measures put in place to curb the spread of COVID-19. Some of the questions that still demand answers are those pointing to the implication of COVID-19 on the key issues of corporate governance, particularly good corporate governance and corporate crisis management strategy.

Crises and their implications on the socio-political and economic well-being of societies have long attracted the attention of scholars and social analysts as “throughout history major crises have provided turning points in social and political organization, altering economic fundamentals, reshuffling alliances, shifting narratives and reconfiguring public authorities”. Political economists, for instance, have raised the question of “whether these economic crises are always followed by political crises” claiming that in the past years, “there has been much debate about the place of crises,  and crisis narratives,  in restructuring public policies”.

There are also essential questions and reflections to be raised about the implications of COVID-19, though it began as a health crisis, it soon transformed into an economic and political crisis in many regards. Similarly, examining the implications of COVID-19 on corporate governance is equally important,    since    COVID-19    proved to be challenging beyond expectations not only for the poorer and developing nations but also the rich and advanced nations.