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The Bottom Line

Managing in a Crisis

The Bottom Line

BBC

Personal Journals, Business, Society & Culture

4.6615 Ratings

🗓️ 4 July 2013

⏱️ 28 minutes

🧾️ Download transcript

Summary

What do you do when it all goes wrong? How to manage corporations in times of crisis is the subject under discussion by Evan Davis and his guests.

Business leaders should expect the ride sometimes to be bumpy - but what is it reasonable to expect? And what is the best way to proceed when the truly unexpected happens?

Guests Michael Woodford, former chief executive & president, Olympus Corporation Ann Cairns, President International Markets, Mastercard Eddie Bensilum, Director, Regester Larkin

Producer : Rosamund Jones.

Transcript

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0:00.0

Thank you for downloading this programme.

0:02.0

In this edition of the Bottom Line, Evan Davis and guests discuss what it's like to manage a corporation through crisis.

0:09.0

Hello and welcome to the program. Now you've had the odd difficult day at work and you've probably grumbled about it.

0:15.0

Well, my three guests this week have had days that are difficult times ten.

0:19.0

They've all had to cope with corporate crisis of some kind.

0:22.3

Fortunately, they've all survived to tell their tale, and we'll hear any lessons from them they

0:26.7

can offer in keeping your cool when everything goes wrong. We'll hear each story in detail,

0:32.4

but my guests are, first, the man who exposed a financial fraud at Olympus, the Japanese company, Michael Woodford.

0:39.7

And Michael, you were president of Olympus and chief executive.

0:43.3

I was made president on April 1st, 2011.

0:46.1

And on October 1st, I was promoted to also assume the CEO status.

0:50.7

And exactly two weeks later, I was fired.

0:53.0

So it all started on April Fool's Day.

0:55.0

Exactly. Thank you. Secondly with us is a woman who was at McDonald's when it decided to

1:00.9

stop selling burgers, which was because of BSE, Eddie Bensselam. And Eddie, what were you at the

1:07.8

time? What was your title? At the time, I was Head of Communications for the UK company.

1:11.7

Okay, well, we'll hear more about that. And also with us, one of the people who had to

1:16.3

source out the mess left by Lehman's when it went bust, Anne Cairns. And, Anne, you started off

1:22.5

in the oil and gas industry, then went into banking. What were you up to the day that Lehman Brothers went

1:29.7

bust? A couple of months before Lehman went bust, I had joined one of the world's biggest

1:35.9

private restructuring firms, Alvarez and Marcell, and I was sitting in my office in Canary

1:41.9

Wharf, looking out of the window, when I saw all these people

...

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