Death of a top executive presents challenges
Dealing with the death of a top business executive is a daunting challenge for any corporate communications team.
The challenge is two-fold: How do you show the departed executive the proper respect and honor the individual’s achievements while at the same time communicating to various constituencies that the company can successfully negotiate the difficult transition?
That’s what is facing officials at Xerox in the aftermath of John Visentin’s death Wednesday due to complications related to an ongoing illness. Further complicating matters is that while Visentin’s death comes as a surprise to the general public, company officials haven’t said how much Xerox’s board of directors knew about his illness and when they became aware of that information.
The president of a New Jersey-based strategic communications firm, Kevin Whitmer of Whitmer Consulting, said since “Visentin was dealing with an ongoing illness, its top executives and board members also had to be in touch with key shareholders, customers and employees Wednesday and into Thursday.”
“The news certainly raises new questions, so all those key parties want to know the same two things we all want to know during a crisis: What’s the plan? And, what’s it mean for me?” Whitmer said. “Xerox will have done well today in the face of awful news if it has answered those two questions, moved decisively and stayed on point.”
Angeli Gianchandani is a practitioner in residence for the marketing and MBA programs at the University of New Haven. External brand communication and employee brand communication “is more critical for companies in a post-COVID world than ever,” Gianchandani said.
“In particular, the unexpected death of the CEO, navigating how to balance grieving and business as usual, walks a fine line for all stakeholders,” she said. “The CEO is the face of the brand and a powerful tool for making deep connections with employees, shareholders, and customers. During this time, the company needs to move quickly and thoughtfully, supporting everyone to grieve and honoring the CEO’s memory.”
Steps to help employees deal with the grief of losing a chief executive officer include acting with empathy and providing workers with grief counseling, according to Gianchandani.
“Your employees are the heart and soul of the brand,” she said. “Allow employees, customers, and investors to share stories and experiences in remembrance of the CEO to support the grievance process.”
Going forward, Gianchandani said a crisis communication plan must be outlined for informing succession plan and precisely informing stakeholders, board members and senior leadership, before investors to ensure confidence.
Xerox trades on the New York Stock Exchange under the ticker symbol X.
The stock stood at at $14.17 Friday afternoon at about 2 p.m., down 90 cents from Wednesday’s close.