CommCore CEO Andy Gilman was recently quoted in an article published in The Wall Street Journal, Sam Bankman-Fried Chucks the Crisis Communications Playbook, where he provides commentary on founder and former FTX CEO Sam Bankman-Fried’s recent handling of interview questions regarding the collapse of the cryptocurrency exchange he founded.
“He’s basically breaking every rule that somebody in the crisis communications field would advise,” said Andrew Gilman, president and chief executive at CommCore Consulting Group, a public relations and communications firm.
There comes a time in any crisis when it becomes possible to pivot toward the future, but FTX and Mr. Bankman-Fried aren’t there yet, said CommCore’s Mr. Gilman. “People are still finding out how much money was lost,” he said.
If Mr. Bankman-Fried is determined to say something now, Mr. Gilman said he would have advised putting a statement online and declining to take questions yet.
Not “If” But “When”
Why care about crisis preparedness?
When you’re caught unprepared, your organization can become reactive. You might make communication mistakes that could have easily been prevented. This can put even the best organizational reputation in jeopardy.
Crisis can impact a client’s decision about whether or not to continue to do business with you. It makes a difference in whether or not people want to work for you. And as Warren Buffet says, “It takes 20 years to build a reputation and only five minutes to ruin it.”
When you’re prepared for crisis, you can be responsive and even proactive, keeping your reputation intact.
For more tips and types of crisis, follow the link to read the full article WSJ article.
As a leading crisis communications firm, for 35 years CommCore has helped organizations be ready — prepared prior to a crisis — and working side-by-side both during and after a communications crisis.
We partner with our clients to ensure they are properly prepared before, supported during and help them repair damaged brands and reputations after a crisis. Our experience includes:
- COVID-19 employee communications counsel
- Cyber-attack/Data Breach crisis communications
- Tylenol/Johnson & Johnson crisis media training
- SARS risk communications
- Columbia and Challenger space shuttle accidents
- Congressional investigations
- Plant closings
- Class action litigation
- Product recalls
- Ethics issues
- “#MeToo”
In fact, Business Insider Lists CommCore Among “Top DC Crisis Communications Firms to Call.”
Contact our Crisis Communications Trainers & Consultants
We are available and can put you in touch with the right person to help with your specific crisis communications challenge.
To schedule a PressureTest™ Demo or get answers quickly, call us at (202) 659-4177 or email info@CommCoreConsulting.com to contact our crisis communications firm today.