“Companies once relegated the management of reputation risk to the public relations or communication functions, often in response to a specific crisis. The time for such narrow thinking has long passed. Today, because of the enduring costs of a crisis, effective reputation risk management requires a broad understanding of the possible risks and liabilities facing a company in light of its business mix, strategic objectives, and interested stakeholders. It requires an authority that can spur action within boards and among upper management enterprise-wide.”
ACC Docket
December 01, 2021
“Based on their typical scope of duties and experience, chief legal officers are well suited to manage reputation risk.”
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A company’s oversight of reputational risk has become a key governance matter.
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