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Wayne Spivak's headshot
Wayne Spivak President & CFO

If you were the CEO of United...

Asked on April 18, 2017

Would you disclose the volatility of the social media storm hitting United and the possible downward trend it may cause in your filings?

An article in WSJ discusses this issue. "What Should CFOs Do Amid A Social Media Uproar?"
https://blogs.wsj.com/cfo/2017/04/18/what-should-cfos-do-amid-a-social-media-uproar/

The advice given was "CFOs should ensure they follow internal governance procedures, such as informing board members and communicating critical information to key decision makers, Mr. Rodel said." Mr. Rodel is a partner at law firm Debevoise & Plimpton LLP.

Do you agree or is more required?

Answers

EMERSON GALFO's headshot
EMERSON GALFO CFO • April 19, 2017

I agree. Boards should have a Crisis Committee to oversee management response. I seem to remember the same discussion in this forum.

One thing I do NOT understand is why companies still do NOT have overall guidelines on how to respond for situations like this. UA in particular where it is NOT a new thing for them. They never learned.

Time for companies to put their money where their mouths are. Time to reflect the "CUSTOMER FIRST" mantra into policies and practices.

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