CEO’s Abrupt Exit Puts Fintech Firm in Spotlight

September 26, 2017

Bill Coletti, Kith’s CEO was featured in the Wall Street Journal’s Risk & Compliance Journal Crisis of the Week: CEO’s Abrupt Exit Puts Fintech Firm in Spotlight

“The SoFi board was forced to act quickly and did so in a way that was transparent and compassionate–it just took two bites. SoFi likely wishes it had removed Mr. Cagney right away rather than allow him to transition out of the CEO role, given the backlash. However, SoFi listened to its critics following its initial CEO transition announcement and course-corrected quickly.

“SoFi’s internal communications conveyed a tone of empathy; too often companies…are aloof or even crass in their messaging to employees. It’s critical employees understand their employer takes these issues seriously and SoFi did a solid job in acknowledging the problem and explaining what would happen next. Increasingly, and appropriately, companies are writing internal communications with the expectation they will be shared with media. This has forced companies to be more human in their reactions and to be held accountable not just by employees but by the public, as well.”

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Bill is a reputation management, crisis communications and professional development expert, keynote speaker, Wall Street Journal Risk & Compliance panelist, and best-selling author of Critical Moments: The New Mindset of Reputation Management. He has more than 25 years of global experience managing high-stakes crises, issues management, and media relations challenges for both Fortune 500 companies and winning global political campaigns.