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Temin and Co.

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"Gynecologist’s Actions Bring Down USC’s President" 

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"Harassment Claims Cost Wynn Resorts its Leader" 

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"NBC News Faces Questions After Lauer Firing" 

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"Equifax Hit With Massive Reputation Breach" 

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"Hacked Twitter Account Gives McDonald’s Indigestion" 

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"Qualcomm Chips Away at South Korea Probe" 

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"Tyson Finds Itself in Game of Reputation Chicken" 

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"Delta Grounded After Computer Crash" 

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"Signet Confronts Diamond Debacles" 

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"NFL Goes for Knockout Against New York Times" 

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"OSI Fights Back In China" 

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"Tesla Slams the Brakes on Seat Belt Problem" 

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"United Airlines Faces Turbulence Amid Federal Probe" 

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 "Accounting Problems Hobble Toshiba" 

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 "Kiss-and-Tell Fears After Adult Friend Finder Breach" 

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"Ice Cream Recall Snags Blue Bell" 

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"Williams, NBC Between Iraq and a Hard Place" 

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"Sometimes You Feel Like a Nut" 

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"How Well Did Tesco Account for Itself?" 

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In the News-Corporate Governance

'A Tremendous Insult:' Boardroom Leaks Irk Directors

Amanda Gerut, Agenda, April 1, 2019

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Leaks of information about CEO hires, potential acquisitions and boardroom deliberations about executives accused of misconduct have become an increasingly acute concern as more activists, first-time directors and directors with varying business backgrounds join boards.

The spread of confidential information about boardroom discussions is an evergreen source of disquiet among directors. But as more boards contend with messy, difficult issues about company culture, for instance, dissent and rifts can sometimes lead to directors' turning to outside sources to influence decisions. Staying abreast of group dynamics such as distinct majorities and minorities in votes, directors who feel their views aren't being heard and general board dysfunction that can breed an environment in which directors might turn to the press or social media to air their views is important in maintaining an open — but confidential — atmosphere.

Meanwhile, the issue of information seeping out before a board has decided to formally communicate remains a frustration for directors.

Most boardrooms, like a therapist's office or a confessional, are considered "sacrosanct," says Davia Temin, president and CEO of reputation, risk and crisis management firm Temin and Company. However, that confidentiality can break down in certain situations. For instance, leaks can occur when a director tries to influence a board decision and isn't successful. In frustration, a director might turn to the press to put external pressure on the board to get directors to vote a certain way. Activist investors may feel an allegiance to their firm or other outside parties, or founders could disagree with other board members and leak information to try to sway investors to their side. Confidentiality can also break down in a crisis, Temin says.

Still, "even in this world of social media and transparency, boardroom deliberations really do need to be opaque," she says. [...read more]

Amazon Execs Pool Stock in Revolt Against Board

Lindsay Frost, Agenda, January 11, 2019

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A group of employees at Amazon are fed up with the lack of transparency and action the e-commerce giant has taken on climate change. So they decided to pool the shares given to them as compensation to file a proposal asking the company to disclose a solid plan on how to tackle the impacts of climate change. According to The New York Times, this is the first employee-sponsored shareholder resolution filed at a tech company.

This comes as employees begin to work more closely with shareholders to drive action on environmental and social issues impacting companies and the communities in which they operate. Experts predict that more employees, particularly those in the millennial generation, will begin to use their shareholder rights to bring these issues directly to the board. Boards should open the lines of communication to company employees and consider disclosing more about environmental and social issues, sources say.

"Employees are taking their employers up on their word to have a voice at the company, which isn't just a good brand message anymore," says Davia Temin, president and CEO of crisis consulting firm Temin and Co. "I don't think this is going to go away any time soon. It's probably going to become a staple of governance issues." [...read more]

Moonves Pay Punishment Caps Year of CEO Naming and Shaming

Jeff Green and Suzi Ring, Bloomberg, December 20, 2018

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CBS Corp.'s decision to fire Chief Executive Officer Les Moonves and strip him of a $120 million payout caps an unprecedented year for naming-and-shaming in the corner office.

Corporate boards have been quicker to take action in 2018, now often announcing a CEO's departure at the same time the misconduct was disclosed, said Davia Temin, founder of crisis consultancy Temin & Co. in New York. In October and November of last year, there were an average of 40 days between the first accusations and a firing. That has shrunk to almost zero now, she said, citing her database. [...read more]

Between Cosby and Kavanaugh -- 810 High-Profile Public Figures Accused of Sexual Harassment

T&C Press Release, PR Newswire, October 3, 2018

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NEW YORK, Oct. 3, 2018 /PRNewswire/ -- As the #MeToo movement has redefined "acceptable" conduct in every sphere of society — from the workplace to the university, from Hollywood to the Supreme Court — reputation and crisis management consultancy Temin and Company has logged 810 high-profile figures from Cosby to Kavanaugh accused of sexual harassment. This creates a comprehensive database of those accused of #MeToo-related conduct since the arrest of Bill Cosby in December 2015.

Among the 810 Temin's "#MeToo Index" has tallied are: 234 in arts and entertainment; 192 in politics and government; 159 in business; 114 in media and broadcasting; and 63 in colleges and universities. "Every sector has been affected," says Temin CEO Davia Temin, "and leaders — CEOs and board directors – are looking for insight on why, why now, and how we can address the reputational risk of toxic workplace cultures."

Weinstein was the Watershed
"We are at a pivotal moment when several aspects of the movement, and its pushback, are converging," Temin continues. "As the nation is fixated on the Kavanaugh hearings and FBI investigation, as well as Cosby's sentencing as a 'sexually violent predator,' October 5 also marks one year since the explosive revelations of Harvey Weinstein's decades of sexual misconduct. Our data tells us that these revelations opened the floodgates and set off the spike in allegations around the world." Accusations averaged 6 per month between Cosby and Weinstein, and jumped to 78 in October 2017, 119 in November, and 103 in December. The average in 2018 is 42 per month. "We are seeing the public impact of these accusations in real time, and the power they have to marshal public sentiment, outcry, and action."

No One Wants to be a "#MeToo Company"
As allegations around sexual misconduct and toxic culture increasingly dominate the news cycle, the consequences for organizations have risen exponentially. An SEC filing by CBS on September 28 revealed CBS has received subpoenas from the New York County District Attorney and the NYC Commission on Human Rights, as well as a request for information from the NYS Attorney General's Office regarding allegations against Les Moonves, "CBS News and cultural issues at all levels of CBS." "A dramatic shift is occurring in organizations everywhere, and corporate boards – especially women board members — are paying serious attention," says Temin. "No one wants to be a '#MeToo company' today."

Metrics Bolster Narrative
"Personal narrative, fueled by social media, has transformed the #MeToo movement into a powerhouse very quickly," Temin says. "But I believe it takes narrative combined with metrics — with research — to put the issue in context and fuel its next wave. One person's story on social media, even anonymous, strikes a chord with others who have experienced the same thing, sometimes perpetrated by the same individual. Victims may have felt alone before, but then recognize that they have been part of a pattern. They then post their stories, sometimes anonymously as well. Their stories attract others who do affix their names, and a powerful trajectory of truth is begun.

"But you can lie with narrative as well. We all know that. It is the wise combination of metrics, personal narrative, and pristine due process that will bring us closest to long-hidden truths that have damaged women's progress forever. That is why I started this Index."

#MeToo Index: Highlights
Compiling data of allegations around sexual harassment, sexual assault, rape, workplace misconduct, and other related behavior, the continuously updated Temin #MeToo Index defines "high-profile" accusations as receiving at least seven mentions in the popular media. The database includes over 25 information fields, ranging from the accused's age, industry, date of accusation and resolution, to political party. Highlights from the Index include:

  • A steep explosion in numbers of public accusations occurred after Weinstein revelations in the New York Times – October 5, 2017:
    • June, 2017: 10
    • July, 2017: 10
    • August, 2017: 9
    • September, 2017: 11
    • October, 2017: 78
    • November, 2017: 119
    • December, 2017: 103
  • After the spike in accusations following Weinstein, the number of accusations per month has held relatively steady over the last 6 months:
    • April, 2018: 28
    • May, 2018: 39
    • June, 2018: 24
    • July, 2018: 39
    • August, 2018: 41
    • September, 2018: 35
  • Entertainment, politics, and business draw most accusations:
    • Arts & Entertainment: 234
    • Politics & Government: 192
    • Business: 159 (including 40+ in finance)
    • Media & Broadcasting: 114
    • Colleges & Universities: 63
  • Final resolutions of cases (many still pending) include:
    • 75 Arrested (Some before or after being fired)
    • 18 Deceased (3 committed suicide)
    • 146 Fired
    • 211 Resigned
    • 18 Retired
    • 53 Suspended/Are on Leave
    • 104 Lost Work (including entertainers or sports figures)/Other
    • 221 No Repercussions
  • 56 CEOs are the subject of accusations to date. 21 CEOs of public companies and 29 CEOs of private companies have had accusations revealed in the media, in addition to 6 nonprofit CEOs. In the nonprofit sphere, there are also 20 CEO-equivalents, including directors, founders, and presidents of prominent, heavily-funded national and international organizations, who have come under fire, with all 20 leaving their positions, although one was re-elected after being exonerated of the charges.
  • Accusations of sexual misconduct cross party lines fairly evenly. For those in political office accused of misconduct, the split is fairly even between Democrats and Republicans: 76 Democrats vs. 70 Republicans.
  • 97% of accused are male. Asia Argento captured media attention by being on both sides of the #MeToo debate – accuser and accused – but 787 of the 810 alleged perpetrators of sexual harassment or assault on the Temin #MeToo Index are male.
  • The time between accusation to resolution has been growing shorter. As #MeToo begins to be seen as a real reputational risk, organizations are paying attention to and acting on complaints more quickly. Some are even announcing the resolution of a complaint at the same time they announce the accusation.

And, separately, in the business sphere:

  • M&A deal risk: Financial impact in the M&A space came with the arrival of the "Weinstein clause" in mid-summer '18, mandating additional due diligence of executive conduct in target companies and allowing acquiring firms to pull out if they found something they didn't like.
  • Asset management flight: Investors are seeing firms with sexual harassment complaints as an investment risk; some portfolio managers are staying away and others are questioning company management about their workplace culture issues and how they are dealing with sexual misconduct.
  • Corporate investigations into company culture: "The best organizations are conducting deep dives into their corporate culture to better understand how sexual harassment is tolerated, and the dynamics at play in their workplace. Boards themselves are also more involved in addressing cultural insufficiencies in their companies than ever before – a role that used to belong almost exclusively to management and HR."

"We are at the tip of the iceberg as more and more organizations continue or begin investigations into their cultures in general and #MeToo incidents in specific," says Temin. "More incidents will come to light. Different sectors are reacting on different timelines, and with different levels of seriousness, but this is a movement toward fairness and safety that will not be stopped. It is inexorable.

"Organizations seeking to create cultures not only of safety, compliance and security, but of mentorship, innovation, purpose, and excellence, are demanding zero tolerance for this kind of misconduct and are demonstrating greater willingness to mete out consequences when required."

California to Mandate Gender Diversity in the Boardroom

Sonny Santistevan, CyberVista, September 11, 2018

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California legislators have recently passed a bill that would mandate publicly-traded companies that are headquartered in California appoint one woman (at a minimum) on their board by the end of 2019. Boards with five or more directors will need to have at least two or three women by the end of 2021, contingent on the size of the board. Although California Governor Jerry Brown has yet to sign the bill, if he does, non-compliant companies will have to face financial penalties if they don't adhere to the legislative mandate.

"There are many roads to Mecca and many ways we can accomplish strong, wise, smart, and diverse boards" said Davia Temin, President and CEO of Temin and Company. "On a principal level, I'm not very much for quotas. However, I think that the law is going along with the drumbeat of interest in getting more women on boards. I think it would happen regardless whether there is a law or not because I think the momentum is there, but I do think this is going to hurry it along."

When asked if the legislation would test the pipeline of potential qualified female candidates, Temin seemed less concerned. "I do think there is a great pipeline for women directors – and a full pipeline for women directors that exist already, so I think that should this law be on the books, they will find some great people to populate the director ranks." [...read more]

From Pot Podcasts to Taboo Tesla Tweets, Musk’s Antics Continue

Eve Tahmincioglu, Directors & Boards, September 10, 2018

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The Air Force is reportedly looking into Tesla CEO Elon Musk's recent appearance on a popular podcast because it appears to showing the embattled executive smoking marijuana.

It's the latest in unusual behavior by Musk, including a tweet storm last month when he claimed he wanted to take Tesla private and then changed his mind. The claims apparently surprised the company's board; and they prompted a Securities and Exchange Commission inquiry.

Clearly, Musk marches to the beat of his own drummer, but in cases like this, what's a board to do?

Corporate crisis and reputation adviser Davia B. Temin, CEO of Temin and Company Inc., weighs in:

There have always been "force-of-nature" CEOs. These are the geniuses who single-handedly build or propel organizations to new heights of innovation, achievement, profitability and impact. As a society, we tend to revere them, as much for their sins as for their sainthood. But, as directors, we are plunged into a conundrum. How much leeway do we give them, and when do we need to pull in the reigns? [...read more]

Moonves Resigns Amid Sexual Misconduct Allegations

Richard Quest, Quest Means Business, CNN Money, September 10, 2018

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It's a pivotal moment for the #MeToo Movement and for CBS. Their Chief Executive, Les Moonves, is leaving the company immediately, pushed out by fresh accusations of sexual assault. Moonves is the first Fortune 500 CEO to be ousted through the #MeToo era.

The controversy isn't over because the details of Moonves' payout is still to be decided. CBS shares have regained some of the early losses. They are still down for the day, that's partly because with Moonves gone, the battle for control of CBS has come to an end.

Richard Quest talked to media reputation strategist, Davia Temin, about Moonves' exit and potential payout, the #MeToo Movement, how a board should respond to years' old allegations, and Serena Williams' response to her fine at the U.S. Open. [...read more]

Uber’s Founder/CEO Got Too Much Deference From the Board, Says Former A.G.

Dan Bigman, Chief Executive, June 25, 2018

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When boards are in awe of founder CEOs, bad things can happen. Just ask former U.S. Attorney General Eric Holder.

If Holder was to sum up the board's role in the cultural meltdown at Uber that almost derailed the company, it is that directors gave too much deference to founder/CEO Travis Kalanick. This is something, he says, that boards need to pay particular attention to in an era of superstar founder/CEOs and unicorn valuations.

"It used to be that the board might either tolerate bad behavior, or publicly support a CEO while privately chastising him relentlessly. Regardless, he or she would stay," said Davia Temin. "More recently, however, given the outsized attention to serious CEO misbehavior, boards really have little choice—they must react, and act, quickly and decisively." [...read more]

Scrutiny of CEOs’ Personal Lives Rises in #MeToo Era

Vanessa Fuhrmans and Rachel Feintzeig, The Wall Street Journal, June 21, 2018

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Chief executives used to be able to operate with little scrutiny beyond their quarterly results. That's no longer the case.

Decades ago, board members were more likely to look the other way on office romances and other matters considered personal, according to executive recruiters and corporate governance experts, but the role of CEO is more high profile than ever before, limiting the room for transgressions.

"There's a new level of rigor that says if something is on the books, it needs to be upheld and not ignored," said Davia Temin, adding that boards of directors are increasingly concerned about anything that might affect a company's reputation.

Corporate missteps can go viral fast, thanks to cellphone cameras, social media and apps and websites like Glassdoor and Blind—popular with tech workers—where employees can anonymously share feedback. "It's much less easy to have secrets," said Davia Temin. "Organizations are more porous." [...read more]

Why You Should Serve on a Board Now

Jan Alexander, Robb Report's Muse, May 29, 2018

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If you follow the news of workplace sexual misconduct—and who doesn't these days?—you've no doubt heard that investors in any number of companies are clamoring for more women on the board of directors. There are two great reasons for highly accomplished women to serve on the boards of corporations both large and small. One reason is that they need you—and not just because of Me Too. The other reason to serve on a board is that the experience will do a lot for your professional savvy, even when you're at the top of your game, which you pretty much have to be.

Charges of sexual harassment or any kind of discrimination are a risk to a company's reputation and therefore its shareholder value—and women board members and executives are the best assurance against a "wink-wink, nod-nod" culture, as Davia Temin puts it. Temin has been advising corporations about how to avoid becoming "Weinstein Co. 2.0", but she says boards also need women because "some of the smartest and most thoughtful governance is being done by companies that have more women on their boards." [...read more]

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