In the wake of the lawsuit and Mr. Schneiderman’s public statements, the Weinstein Company fired its president, David Glasser, for cause. The lawsuit did not name Mr. Glasser, but it referred to him by his title and said that the sale of the company could result in employees’ reporting to some of the same managers “who failed to investigate” Mr. Weinstein’s conduct or protect female employees from him. In a statement, a lawyer for Mr. Glasser, Eve Wagner, said that Mr. Glasser planned to sue for wrongful termination.February 26, 2018
New York Times
The pile on of litigators, regulators and blogging soldiers weaponizing the internet produced the deal-killing demand for “assurance that a sale (of Weinstein had) three components: adequate adequate compensation for victims, protections for the studio’s remaining employees and no financial reward for those “who enabled or perpetuated Mr. Weinstein’s misconduct.”
Reputation risk: It is always personal in the C-suite and boardroom.
Reputations are valuable strategic intangible assets. Threats to these assets⏤ enterprise reputation risks, often mislabeled “brand risks” ⏤ need to be managed, and management needs to be overseen through reputation risk governance lest reputational damage or reputational harm result in long-tailed go-forward losses in economic value and/or political power. Because these intangible risks arise from the interplay of stakeholder expectation, experiences, and media amplification, parametric insurances for intangible asset risks, for reputational value, for reputational harm, and for reputation assurance help mitigate risk by telling a simple, convincing and completely credible story of quality reputation governance to stakeholders. This story telling effect is the expressive power of insurance complementing insurance’s better known instrumental power of indemnification.
Risk management, risk financing in insurance captives, and risk transfer through reputation insurances comprise the constituent elements of a comprehensive solution. What’s your strategy?