September 8, 2019

“On Saturday, a prominent figure at the Massachusetts Institute of Technology stepped down after the disclosure of his efforts to conceal his financial connections to Mr. Epstein, the disgraced financier who killed himself in a Manhattan jail cell last month while facing federal sex trafficking charges.

Almost immediately, the M.I.T. official, Joichi Ito, left the boards of three other organizations: the MacArthur Foundation, the John S. and James L. Knight Foundation, and The New York Times Company, where he had been a board member since 2012. He also left a visiting professorship at Harvard.”

New York Times
September 8, 2019

“M.I.T. listed Mr. Epstein as “disqualified” as a donor. [Nevertheless] Mr. Ito [reportedly] had a relationship with the wealthy financier.”

Click on Read More (below) for full text (no paywall).

With reputation crises, institutions usually recover notwithstanding significant short-term costs. Individuals don’t.

For a broader view of reputation risk, discover additional articles by Steel City Re here, mentions of Steel City Re here, and comments on newsworthy topics by Steel City Re here.

Risk governance and management, risk financing in insurance captives, and risk transfer through reputation insurances comprise the constituent elements of a comprehensive enterprise reputation risk solution.

What’s your strategy?