Tuesday, November 20, 2007
This is a difficult PR problem when employees play company politics in public. In this case, a new CEO and the board are facing a potential revolt by its largest employee body. It is even more difficult because if Merrill's brokers don't get their way, they can take their clients and go elsewhere. Mobility is easy on Wall Street. What can PR do about it? Not much. This is a CEO- and board-level communications challenge. What both say to the brokers will be critical in future relations, especially if there is no intention to give into the brokers' demand. It will be interesting to watch the outcome.