Editor’s note: This month we’re introducing our very first ‘Letters to the editor’ page – a milestone for IR magazine. While we’ve had lots of feedback from our readers over the years, we’ve never put it down in print.
Well, we are now. We want to know what you think about the global IR industry. Tell us if we’re covering the wrong stories, or – and any letters to this effect are especially welcome – whether we are doing things right.
To make it easy for readers, all features now list the journalist’s e-mail address at the bottom, so you can contact that person directly about his or her article. Alternatively, you can e-mail your letter to: [email protected]. And when you log on to our web site (www.IRontheNet.com), you’ll see our breaking news stories now include a contact e-mail at the bottom as well. So send us your views and we’ll print them on this page every month.
Why are we doing this now? Well, writing and reporting is a fairly solitary pursuit and all journalists secretly yearn to hear what readers think of their work – whether good or bad. So the first reason is one of vanity. But we also genuinely want to ensure that we’re covering the issues that matter most to our readership.
Recent controversies at major mainstream media institutions like the BBC and, before that, the New York Times, have forced us all to consider the role the press plays in relaying the truth to its readers. We pride ourselves on a high standard of reporting and information-gathering at IR magazine but we also want to know when we’re wrong – so this page will also feature any corrections we need to print.
Don’t forget Canada
You reported the takeover of Georgeson Shareholder by Computershare in your December 2003 issue (News: A proxy takeover, page 23). There was one very key point that you missed in your reporting, though. While the new combined company is in fact truly global, you neglected to list one of Computershare’s most strategic and important markets: Canada.
Glenn Keeling, President & chief executive officer
Georgeson Shareholder Canada
Integration works in India
With regard to your feature Conjunction junction (December 2003, page 39), the investor relations and PR functions are already largely integrated in India, at least in IT services. Most companies here make a distinction only between marketing communication and corporate communications.
The former deals largely with producing marketing collaterals centered on the products and services in the company, while the latter is responsible for communications to the media and analysts, as well as some employee communications.
Indeed, one could even argue that, in listed services companies, it would be imprudent to separate IR and PR. Most media and analyst communication is market-sensitive, and it would be next to impossible to coordinate between two separate departments while replying to media or analyst queries, both on a routine basis and during peak communication occasions like an earnings release or an M&A announcement.
Vijay Menon, General manager
Corporate communication & investor relations, SSI
Chennai, India
Next in line
Has IR magazine ever done a story on CEO succession plans?
Anon
Editor’s response:
CEO succession plans was our cover story in our very first issue back in 1988. It’s time for a revisit so be sure to watch our future issues. CEO succession plans have taken on a new importance in light of recent corporate scandals, which exemplified the damage poor leadership can do to shareholder value.
Large-cap companies take their succession plans seriously, but many small to mid-cap companies have no plans to speak of. It may be time for these firms to look at creating such a plan.
And who better than the IR person to educate management and the board on what shareholders view as strong leadership?
While CEOs tend to come from within an organization, some companies still look to a broader pool of candidates when selecting a leader. This is why it’s important to clearly identify the qualities and characteristics a company’s CEO should embody.
