News that Campbell Soup CEO Douglas R. Conant was injured in a car accident on July 2 should remind companies everywhere that crisis communications plans that can be easily executed by management are a must to show stakeholders that the organization continues to function well in the temporary absence of its leader.
Here's the official statement:
Campbell CEO Recuperating After Traffic Accident
Camden, N.J., July 7, 2009-Campbell Soup Company (NYSE: CPB) today announced that its President and Chief Executive Officer, Douglas R. Conant, was injured in an automobile accident in New Jersey on Thursday, July 2, 2009. Mr. Conant was a passenger in the back seat of a vehicle, on his way home from Campbell's headquarters. He is recuperating from surgery performed over the weekend and is expected to be hospitalized for a brief period.
Campbell Chairman Harvey Golub said, "All reports indicate that Doug is doing very well, in good spirits, and progressing toward a full recovery. We believe Doug can continue to lead the company effectively during his recuperation."
Campbell plans to hold its previously scheduled investor meeting in Maxton, N.C. on July 14 and 15, 2009.
It was smart for the company to issue the statement. But it would have been best to issue it a few days earlier particularly since the company had the advantage of a holiday weekend.
During a corporate crisis, false information and rumors fly instantly over the Internet which influence employees, customers, shareholders and other critical audiences. Aside from keeping the media informed, companies need to be positioned to shoot down rumors (online and off) and to be sure to regularly update reporters during the crisis.
This, of course, reminds us of the Steve Jobs saga, in which the Apple CEO's health problems -- real or rumored -- have wreaked havoc on its stock price. Not every CEO is so closely tied to the success or failure of a company as Steve Jobs but all companies must ensure that the company knows how to act and communicate effectively and quickly when the CEO or other high-ranking executive becomes incapacitated.
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