Fumble: Caisse CEO steps down

There’s an important lesson in this story that applies not just to how to handle crisis communications but also about how to keep your communications messages focused. The Globe and Mail had a story this week titled “Caisse engulfed by political battle” about the resignation of the Caisse de depot et placement du Quebec CEO. It alleged that four months ago, the Quebec government of Premier Jean Charest never wanted CEO Richard Guay appointed in the first place and had fought the Caisse board behind the scenes for a different candidate. These questions were put to the chair of the board of Canada’s largest pension fund manager, Pierre Brunet, by the Globe. He responded in an interview that Guay’s appointment was unanimous and that any discussions held about other candidates needed to remain confidential – essentially confirming the Globe’s ‘sources-say’ story. “At the time… Richard Guay was the candidate and it was a unanimous board decision,” Brunet told the Globe. The problem with this is the line “at the time.” It should never have been addressed at all by Brunet. The Caisse is well past that time now. It needed to address the current financial crisis and current facts about how it intends to manage the giant fund in Guay’s absence, not speculate about what happened four months ago in some smoky political backroom. It’s easy to be tricked into going back in time and speculating about what could have or should have happened, or to speculate in future tense about what may happen down the road. Don’t do it. Stay in the ‘here and now’ and remain focused solely on the facts before you today, as you know them.