Critical intelligence for boards in a fast-changing world.
Welcome to Freshfields' Horizon 2020.
The operating environment for multinational corporations in 2020 is set to be more volatile than ever. Economic conditions are uncertain, geopolitical instability casts a long shadow over global markets, regulatory regimes are evolving at speed and debate about the role of business in modern society continues to rage.
Against this backdrop, the boards of public companies face a host of challenges. How can a coherent, long-term strategy be constructed when the short-term outlook is so dynamic? What impact will climate change and other environmental and sustainability concerns have on businesses and markets? How can technology be harnessed for growth amid shifting regulatory regimes? And how should directors engage with investors whose objectives may not always match their own?
Delivering success requires a sophisticated understanding of this rapidly changing landscape. On the pages that follow we explore the key issues for boards and management in 2020, and offer practical guidance on how best to respond.
With clarity of thought and careful preparation, every challenge can be addressed — and every risk becomes an opportunity. Best wishes from us all at Freshfields for a prosperous 2020.
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Leveraging talent for growth
Emphasizing the "human" in human capital management
What sustainability means for business
ESG, climate change and litigation risk
Reforming the US corporation
Can boards serve more than their shareholders?
Employee benefits: the forward view
Say on Pay, activism and compensation deductibility
A renewed focus on process
Proxy advisers: the essentials
Dealing with the proxy advisory firms
Trends in Delaware litigation
Managing the threat of stockholder action
Key themes in litigation
From "event-driven" claims to the rise of third-party funding
Priority areas for global enforcers
What's on the agenda for regulators and prosecutors?
Trends in stockholder activism
Where will campaigns focus next?
Deal-making in 2020
M&A drivers for the year ahead
Corporate minority investments
Managing the risks of non-controlling stakes
The shifting antitrust landscape
Themes in tech, merger control, consortium bids and innovation
Navigating foreign investment rules
CFIUS and other international frameworks
Technology and business
Cybersecurity, data and regulatory risk
SEC disclosure obligations
Technology, IP and cybersecurity risks
Taxing the digital economy
What shifting rules mean for global businesses
Libor transition, creditor risk and flexible covenants