Jeff Green, Bloomberg, February 10, 2014
AOL Inc. Chief Executive Officer Tim Armstrong is on a long list of corporate bosses who put their trust in an apology to contain fallout from an embarrassing public statement. Armstrong said he was sorry and backtracked on a 401(k) policy change days after he cited the cost of “distressed babies” on the AOL health-care plan as a reason the company needed to save some money.
The best outcome for Armstrong would be if the uproar blows over. But, according to Davia Temin, now that blunders move at the speed of the Internet, even executives with strong boardroom support sometimes can’t bounce back when they trip up in a very public way. […read more]