a different direction, then you’re facing a larger ques- tion of whether or not the company is the right place for you in terms of your career and personal values.
Be Prepared to Respond Quickly If an ethics violation has occurred and the board has determined a specific action needs to take place, it is essential that IROs have a crisis plan in place to communicate to all stakeholders. Every crisis and company are different, and
there’s no standard crisis playbook that applies across the board—and none of the usual strate- gies are particularly enjoyable. But whatever the situation, remind yourself that it’s an opportunity to demonstrate leadership and empathy, both of which have the power to deepen relationships with key audiences. Sticking to the facts, being transparent and
truthful, expressing compassion, and shining a light on the path forward can build credibility and bolster your company’s reputation in the invest- ment community. Lazar emphasizes the importance of practice in the face of stressful situations. “You don’t have to practice a particular situation, but you need a process for how you’re going to deal with situations, who is going to be involved, and what the messaging is going to be,” he says. “Te underlying truth ends up prevailing,” Mathur
says, which means starting with the truth being open and honest—including with shareholders—is critical. They will appreciate your honesty, and you’ll probably feel good about how you navigated a tough situation, too. “Tere’s tremendous power in being yourself,”
he adds. “If you’re not yourself, people can tell. Start with the truth of who you are and what’s happening with the company.” Tat transparency is key to your credibility—and
by extension, to your peace of mind as well as your career. IR
Nicole Noutsios is Founder of NMN Advisors, Inc. Nicole serves on the NIRI San Francisco Board and the NIRI Ethics Council. Email:
nicole@nmnadvisors.com.
niri.org/ irupdate IR UPDAT E ■ S P R I N G 2024 41
The NIRI Ethics Council F
ormed in March 2002, the NIRI Ethics Council was established to create an ethical founda- tion for NIRI members and the investor relations profession. As the field of IR matured, the NIRI Board of Directors recognized the importance of
setting well-defined guidelines of ethical conduct— and creating an enforcement body to uphold them. With established tenures in the fields of investor
relations, public relations, and corporate manage- ment, the members of the NIRI Ethics Council have demonstrated longstanding commitments to the IR profession, both firsthand and in an advisory capacity. Appointed by the NIRI Board Chair, council members provide confidential, non-legal ethical counsel that is based on the NIRI Code of Ethics and informed by their decades of IR experience. If you are an investor relations professional or offer
your services to the investor relations function and are facing an ethical dilemma, you may confide in the Ethics Council, which can direct you toward next steps or available resources. Learn more about the NIRI Ethics Council at
www.niri.org/about-niri/ethics-council and send your questions or comments for the Ethics Council to
ethics@niri.org.
NIRI Ethics Council Members Idalia Rodriguez – Chair Rajesh Mehan, CMA, IRC – Vice Chair Andy Detwiler – Board Liaison Alexandra Deignan – Board Chair-Elect Mitchell Haws, IRC – Member Nicole Noutsios – Member Mark Warren, IRC – Member Matthew Brusch, CAE – Ex Officio
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