Jon Corzine who resigned as CEO of bankrupt brokerage MF Global is becoming the poster boy for management gone wild. Did his love of leverage and sovereign debt bring down MF Global?
PR wise, Corzine has to accept that the task of rescuing his reputation is a longer-term project. His spokesman now needs to do the talking while Corzine vanishes from the headlines in the hope the story becomes less personal and more corporate.
His short-term PR positioning? Wall Street statesman now a humble servant making amends…..And find one or two journalists with a sympathetic ear. He’ll need them.
The PR verdict: “B plus” for his personal PR handling so far.
His resignation statement struck the right note. Regaining the trust of his thwarted stakeholders is his best hope of salvaging his long-term reputation.