The mayor of the state capital Belo Horizonte, Alexandre Kalil, said “Vale’s board of directors should be in jail”.
Meanwhile top prosecutor Raquel Dodge said it was important to hold the company “strongly responsible”.
“If there was malpractice, recklessness or negligence on the part of someone inside the company, that person has to answer criminally,” O Globo website quoted him as saying.
He added that the government would set up a working group to look at the company’s management.
Vice-President Hamilton Mourão, who is standing in for President Jair Bolsonaro as he undergoes surgery, said the government would need to investigate and punish those found responsible for the disaster.January 31, 2019
“We’ll create a cushion of safety far superior to what we have today to guarantee this never happens again.”
Reputation risk management: concurrent mitigation of false expectations, negative experiences, and noxious media amplification.
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?