And when an event comes to light such as that which was recently experienced by NBC Nightly News anchor and managing editor Brian Williams, it not only tarnishes the person, it can also tarnish the brand.
Williams was suspended for six months without pay recently amid escalating criticism that he had falsely claimed to have been in a helicopter that was hit by gunfire while covering the Iraq war. This inaccuracy also raised up a storm of questions about the accuracy of his reporting on other stories. That is a familiar tactic for CEOs—where the uncovering of one event leads to an embarrassing media firestorm from which there is no turning back.
Like fallen CEOs, Williams’ admission, and NBC’s hesitation in handling the situation, further damaged the news division’s credibility and reputation. The upheaval left the division in disarray, ratings in decline and some advertisers dropping out. This situation serves as an important reminder for CEOs that above all else, transparency and integrity reign supreme.
Here are 4 lessons CEOs can learn from Brian Williams’ fall from grace that can help prevent leaders from a similar fate.
Perhaps the best crisis management advice is also the most obvious. Today, with transparency being the glue for customer and shareholder loyalty, stick to the truth and don’t exaggerate.
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