Business Services Industry
Repairing a damaged reputation: how new CEOs can recover from a corporate scandal.(MANAGEMENT)
Electronic Business, June, 2005 by Young, Debby
CEOs who take the reins of leadership at companies rocked by scandal face an uphill battle on a variety of fronts. To restore a tarnished reputation, they need to regain the confidence of multiple groups--investors, customers, employees, partners and suppliers--each with their own concerns. "In the old days, it was all about shareholder value or earnings," explains Dov Seidman, CEO of LRN, a consultancy specializing in legal compliance and ethics management. "Today any CEO who steps into a troubled company understands that it's more than a matter of restoring profitability and leading the workforce through a difficult time. That person is coming in to engage in an initiative I would deem a cultural transformation."
The process begins by questioning what it...
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