Friday, December 11, 2015
How do you regain your credibility once you have lost it? It is harder than one might think, particularly if you were in the public's eye as CEO of a standout company. This is the tough task that the CEO of Theranos has taken on. She was the toast of the media until stories appeared that claimed her technology for blood testing doesn't work well, or in some cases, at all. Since then, she has been under siege. Her task is to prove her blood testing units do what they are supposed to achieve and at the low price point claimed for them. This is the only way she can re-establish her vision for her company. The extravagant claims before the negative publicity set the company up for failure, which is what occurred. now she needs a humbler approach based on results. That might be impossible to reach and her multibillion valuation of the company could dissipate instantly. A CEO in this kind of crisis earns her pay, but then she should not have allowed it to blow up in the first place. Realistic claims based on facts from the beginning would have served her well.