Thursday, December 08, 2011
Fatal Blow?
How does a company recover from this? Olympus is staring at its mortality after a damning report on the behavior of its executives. Its stock has lost more than 50 percent of its value, and the Tokyo Stock Exchange is threatening to delist the company. The company has done great injury to a key public -- its shareholders. Its interim president and the board have indicated they might step down at a time when Olympus needs leadership and clear communications. It is unlikely to get either for weeks or months while the damage is unwound. Should Olympus survive, its future executives will have a painful and difficult duty of rebuilding the company's credibility. It will be a prolonged public relations exercise.
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