How Do Companies Prepare for a Major Crisis Event? What Directors and Senior Management Need to Know
Are you prepared?
From corporate criminal incidents to catastrophic events such as airplane crashes, wildfires, nuclear disasters, and oil spills, and from cyber breaches and IP theft to highly publicized sexual harassment, discrimination, and other major social issues, no company and no board of directors is immune to a corporate crisis.
Although crises are unpredictable almost by definition, our panelists have seen certain patterns emerge through their experiences leading or counseling companies through crises.
In this program hosted by Pillsbury Winthrop Shaw Pittman LLP and the NACD Northern California Chapter, our panelists reviewed best practices and provided strategies boards can deploy before a crisis hits. They discussed the following important questions about crisis readiness and response:
How ready are your board and executives to manage a crisis? Are key players ready to work together?
How do you determine your “risk and readiness posture” associated with various crisis scenarios, including ones you may never have contemplated?
Does your company have the right governance, frameworks, communications tools, external advisors, and tactical tools (i.e., protocols, technology, security and safety procedures) in place to respond to a major crisis? How do you quickly mobilize and operate tactically when a crisis occurs?
How do you engage appropriately, while still protecting your organization, with key stakeholders in a major crisis, including government agencies, legislators, shareholders, employees, customers, the media (traditional and nontraditional), advocacy groups, local communities, and others?
For additional resources, please visit the following pages recommended by PwC:
1) Pillsbury Recommended Readings: Pillsbury Crisis Management: Emergency Response and Liability Mitigation and The NYSE Corporate Governance Guide 2) Pillsbury Newsletters: Cyberattacks Are the New Norm and Do Recent Events Make You "Wanna Cry"? 3) PwC: Confront Crisis with Confindence 4) Presentation Slides
5) Related Reading: Wall Street Journal, ‘I’m Sorry’ Gets More Expensive for Wells, Uber and Facebook
Moderator Fusae Nara co-leads the Pillsbury Crisis Management team. As one of the few Japanese-speaking litigators in the United States, she represents multinational companies in complex commercial disputes, class actions, and government investigations. She is the author of “How to Survive and Thrive in a Crisis,” a chapter in Corporate Governance: Practical Guide distributed by the New York Stock Exchange to listed company boards.
Jane C. Allen is a PwC Advisory Forensic Technology Partner based in Northern California. She is the co-founder of PwC’s Information Governance practice and current West Coast lead for Incident Response. She also focuses on the data and technology aspects of investigations and digital forensics and e-discovery matters for a variety of regulated and nonregulated entities.
Melinda Yee Franklin is a thought leader and legislative strategist with strong expertise in crisis management, public policy, and international affairs. As the managing director of Corporate and Government Affairs in the Western Region for United Airlines, she serves as the company’s chief advocate on legislative, corporate, and policy issues in the region. She is also lead representative on the boards of key business organizations throughout California.
Simon Mays-Smith is a member of the global technology, media, and telecoms and investor engagement teams at Brunswick. He advises on a wide range of capital markets communications including investor relations, equity messaging, M&A, IPOs, and activism.
Prior to Brunswick, Mr. Mays-Simon was SVP of Investor Relations at Pearson for 10 years where he advised two CEOs, CFOs, and the board on investor relations and financial communications, including an activist shareholder resolution, and numerous acquisitions and disposals including the disposals of the Financial Times and Pearson’s stake in The Economist Group and the merger of Penguin with Random House.
Before joining Pearson, Mr. Mays-Simon worked as a stock analyst for seven years at UBS and JPMorgan and finally as co-head of the media team at Credit Suisse. He started his career at Swiss Bank Corporation/SG Warburg in M&A where he worked on the IPO of Newsquest and financing for Chelsea Football Club.
Pillsbury Senior Counsel Catherine Meyer is recognized by The Legal 500 United States as an authority on data protection, privacy, and cyber law. She advises companies on assisting clients when personal information is compromised or threatened; responding to data breaches; financial privacy rights and compliance; and protecting customers’ privacy under state, federal, and international statutes and regulations.