Investor Relations

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IMPLEMENTING BEST PRACTICES IN INVESTOR RELATIONS 157They should all be fully integrated within the crisis communication teamand benefit from intensive involvement from top leadership. In many cases,the IRO will be among the first two or three spokespersons selected, sometimesbefore the CEO, to help resolve a crisis efficiently. Incidentally, thiseventuality should be borne in mind when hiring an IRO. Successful crisismanagement also reflects the strength—and not just the size—of the InvestorRelations team. Providing its contact databases are up-to-date, the companyknows how to reach its key shareholders quickly. Both permanent staff andadvisors and contractors should be highly experienced professionals andfully mobilized. Companies should not hesitate to expand their teams andmay seek to add complementary skills, as is done during takeover wars.In times of crisis, Investor Relations should not be relied upon to resolvethe problem on its own but rather to assure that any information deliveredis accurate and appropriate. Part of the team’s job is to help maintain thecompany’s reputation and retain the trust of consumers, shareholders,employees, and more generally speaking, all stakeholders.Without delay, the company must come up with messages that are credibleand can withstand in-depth analysis. Yet let’s face it: Compelling messagesand powerful talking points will only gradually appear.Once this is done, the approach can move from a responsive to a proactiveone, mobilizing the right people and resources depending on the nature andmagnitude of the crisis. Bearing in mind that investors, the media, employees,and market authorities can be its closest allies or worst critics, the companyshould in all cases engage in a dialogue that will avoid seeming arrogant,indifferent , unprepared, or lacking credibility, as these attitudes could makethe crisis worse. On the contrary, the circumstances can be turned into anopportunity for a firm to reiterate its fundamental strengths and long-termstrategy. It is always much more difficult to regain credibility than it is toimprove an income statement.
158INVESTOR RELATIONSKey Principles to Remember There is much more to Investor Relations than about presentingfigures. Companies’ valuations are increasingly shaped bythe transparency with which they disclose information, management’sreputation, and the quality of corporate governance andsustainable development policies.Communications strategies must, from beginning to end,combine fieldwork, marketing planning, and first-class logistics. Investor Relations target different audiences with differentexpectations and timing strategies. The resources mobilized toreach and convince them and retain their loyalty must be flexible.The Internet and technological innovations are providing companieswith ways to optimize their investments and differentiatethemselves from the competition.
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INVESTOR RELATIONS
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Investor RelationsPrinciples and In
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ContentsList of IllustrationsIntrod
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CONTENTSvii3.3 Understanding Market
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CONTENTSix4 Measuring The Value Of
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IntroductionAll things being equal,
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INTRODUCTIONxiiion the primary mark
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CHAPTER 1Competing forCapitalBringi
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COMPETING FOR CAPITAL 3FoundersShar
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COMPETING FOR CAPITAL 5attract and
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COMPETING FOR CAPITAL 7OfferDemandS
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COMPETING FOR CAPITAL 9are robust e
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COMPETING FOR CAPITAL 11 Develop an
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COMPETING FOR CAPITAL 13image long
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COMPETING FOR CAPITAL 15ensure that
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COMPETING FOR CAPITAL 17The company
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COMPETING FOR CAPITAL 19will benefi
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COMPETING FOR CAPITAL 21Because deb
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COMPETING FOR CAPITAL 23Pre-IPOEsta
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SEVEN KEYS TO SUCCESSFUL INVESTOR R
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IMPLEMENTING BEST PRACTICES IN INVE
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SECOND QUARTERAPRIL MAY JUNES M T W
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FOURTH QUARTEROCTOBER NOVEMBER DECE
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Page 122 and 123: IMPLEMENTING BEST PRACTICES IN INVE
Page 176 and 177: MEASURING THE VALUE OF INVESTOR REL
Page 186 and 187: Resources6.1 The CEO Investor Relat
Page 188 and 189: RESOURCES 1736.3 Earnings Presentat
Page 190 and 191: RESOURCES 175Today’s investor day
Page 192 and 193: RESOURCES 1776.5 Investor Relations
Page 194 and 195: RESOURCES 179Your commitment to sen
Page 196 and 197: D-7 Audit committee meetingFinal ro
Page 198 and 199: Indexaccounting standards, 35, 57,
Page 200 and 201: INDEX 185disclosure, 2, 9, 11, 44,
Page 202 and 203: INDEX 187investor relations - conti
Page 204 and 205: INDEX 189risk, 4, 6, 38, 54, 72, 87
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Investor Relations

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