May '11 PR Rankings Issue - Odwyerpr.com

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REPORT Study finds few companies prepared for crisis Just a few years out of the financial crisis and with product recalls still reverberating in healthcare, those two sectors would seem ripe for crisis communications planning. But a study by Fleishman-Hillard and the Canadian Investor Relations Institute found just the opposite. By Greg Hazley While many companies are mindful of potential crises, few have effective crisis communications plans for such contingencies, especially in healthcare and financial services, according to the survey of U.S. and Canadian analysts and investor relations officers. The survey also linked crisis situations to negative valuations for companies and found the biggest mistake companies make during a crisis is a lack a communication with stakeholders and employees. “The survey reveals that a poorly managed crisis clearly has a negative impact on a company’s share valuation, so it is imperative for IROs to be prepared,” according to CIRI President and CEO Tom Enright, who said IR pros need to be more involved in crisis plan- 18 • Media Relations • Media Training • Crisis Management (954) 370-8999 SINCE 1989 W W W . B O A R D R O O M P R . C O M Follow us on .... MAY 2011 WWW.ODWYERPR.COM ning. The apparent lack of planning is also surprising as the study found that 85% of analysts said a corporate crisis has the greatest negative impact on a company’s • Public / Legislative Affairs • Community / Industry Relations • Social Media / Online Marketing Don Silver/Julie Talenfeld Source: CIRI/Fleishman-Hillard value. The gap between what analysts expect and what IROs are prepared for was no more evident than in the survey’s social media findings. Few IROs and analysts said crisis plans incorporate social media like Twitter or Facebook, the survey found. Notably, 50 percent of analysts said they look to corporate blogs for information in a crisis, but only 17% of IROs said their companies use that channel. Less than half of IROs said they monitor social media during a crisis. Half of the respondents from financial services and healthcare sectors said they do not follow a crisis communications plan at all, a surprising revelation given those sectors’ doldrums in recent years. And more than half with crisis plans said such guidelines only apply to operation crises, not a corporate scandal like an account fraud or executive scandal. Asked how different crises impact company’s valuations, 85% cited fraud resulting in an accounting restatement, while 74% cited an accounting restatement, 59% noted an operational crisis, and 44% said an executive scandal or environmental crisis would have an impact. Of the companies that have a crisis plan in place, only 29% update it annually and 26% said it gets a look every one to two years, according to the survey.
PEOPLE IN PR KKR’s McKillop to Edelman Peter McKillop, who was Director of Global Communications for Kohlberg Kravis Roberts & Co., has joined Edelman as Executive VP/Financial Communications. At KKR, McKillop handled its highprofile listing on the New York Stock Exchange, branding, corporate, transactional communications and social responsibility matters. Earlier, he was senior VP of Communications at Bank of America’s consumer and small bank operation, in charge of Peter McKillop integrated marketing campaigns for checking, credit cards, small business lending and real estate. McKillop served overseas in J.P. Morgan’s Asia-Pacific operation. He spearheaded Marketing and Communications for Japan, Singapore, China, Hong Kong and Australia. McKillop dealt with PA, crisis and strategic marketing in Japan for Burson- Marsteller. UNLIKE SOME OTHERS... Rosenberg exits PN for Euro RSCG Lisa Rosenberg has left Porter Novelli after two decades for the President slot at Euro RSCG Worldwide PR, one of three key moves at the Havas unit. Current president Marian Salzman, who worked with Rosenberg at PN, has moved into the new CEO of North American PR slot at Euro RSCG. Also, Katie McSorley, who headed Euro PR’s Pittsburgh office, was named president for the Mid-Atlantic region. Rosenberg was a Senior Partner, Director of Global Brand Marketing and Managing Director of the New York office of PN, part of Omnicom, where she started in 1990 as an Account Executive and rose through the ranks, handling some of the agency’s most iconic accounts like M&M’s, Uncle Ben’s, Kellogg’s and Heineken. “She’s a legendary consumer marketer, a focused manager and a hard-driving new business leader— something I know from working closely with her at Porter,” Salzman said of Lisa Rosenberg Rosenberg. Rosenberg was previously with Hill & Knowlton and pens a “mommy blog,” mommylens.com. NBCU’S diversity officer to exit Paula Madison, 58, is stepping down as NBCUniversal’s Chief Diversity Officer at the conclusion of the first Comcast/NBCU joint diversity advisory council meeting slated for May 20 in Philadelphia. She is exiting to manage her family’s financial holdings in the Los Angeles Sparks basketball team and the Africa Channel, according to a report in the Los Angeles Times. Former NBCU CEO Jeff Zucker created the diversity spot in 2007 and selected Madison, a former General Manager of KNBC, to fill the spot. The issue of diversity was among concerns of those opposed to the merger of Paula Madison Comcast and NBCU. Comcast agreed to create 10 new minority-owned channels to help win federal approval of the deal. WE KNOW TEXAS TEXAS. One of the largest lar gest minority-owned public rrelations elations agencies in T TTexas. Texas. exas. We Are PR. 101 Summit Avenue, A AAvenue, venue, Suite Suite 208 208 Fort Fort W WWorth, W orth, TTexas Texas exas 76102 817.332.0404 openchannelsgroup.com openchannelsgr oup.com Open Channels Group Gr oup @OpenChannelsPR MAY 2011 WWW.ODWYERPR.COM 19
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