GERMANY Law and Practice Contributed by: Rainer Wilke, Ingo Theusinger and Ralph Schilha, Noerr
legally sound, helping to maintain trust among customers and investors.
The first key stakeholders to be informed include: • executive leadership (CEO, board members, crisis management team) to make strategic decisions and co-ordinate responses (how- ever, if the executive leadership has caused the crisis, the supervisory board may also be involved in making the strategic decisions); • legal and compliance teams, investor rela- tions, communication teams and the supervi- sory board to assess risks, regulatory obliga- tions and potential liabilities; • HR and employee representatives to handle workforce concerns, well-being and internal morale; • IT and security teams if the crisis involves cybersecurity threats or operational disrup- tions; and • department heads and team leaders to dis- seminate information effectively to employ- ees. Informing the supervisory board is essential as it oversees management’s actions during a crisis, provides strategic guidance, and ensures com- pliance with legal and regulatory requirements. It may also need to engage with stakeholders in alignment with management’s communications. 6.3 External Communication An effective public and media communication strategy involves prompt and transparent mes- saging following a crisis to build credibility and trust with stakeholders. Timing and the extent of the first communica- tion depend on the unique circumstances of the crisis, as the origin and extent of the crisis might still be unknown. Companies must balance the benefits of timely communication with the risks of sharing incomplete or inaccurate informa- tion. The initial message sets the tone for future
6. Communication 6.1 Co-Ordination of Communications Organisations co-ordinate communication between different stakeholders through well- structured communication strategies and clearly defined responsibilities. Typically, a centralised communications team or crisis communica- tions department ensures consistent messag- ing. In addition to the crisis management team, the public relations officer is involved in drafting and disseminating messages. Companies can use centralised platforms, ensuring consist- ent updates across multiple channels, such as emails, newsletters and websites, to provide real-time updates. Common triggers for communicating crises to stakeholders include: • regulatory requirements; • operational disruptions; • negative media coverage; • significant events that can have an impact on the business; or • incidents that attract public or media atten- tion. 6.2 Internal Communication Effective internal communication during a crisis is essential for aligning employee responses and fostering trust. The crisis communication plan should outline how and when to convey infor- mation, using centralised channels and intranet updates. Companies must provide ongoing updates and a contact point for employee inquir- ies. Additionally, debriefing sessions are impor- tant for improving responses to future crises.
97
CHAMBERS.COM
Powered by FlippingBook