Board's Role in Managing a Crisis
By Steve Rivkin and Fraser Seitel
The hospital's board chair picks up the phone in his office at TriState Bank headquarters. The CEO’s voice on the other end of the line is stark and serious. “The medical executive committee just gave me a unanimous no confidence vote,” he says. “They’re complaining about closed communications and aloofness. And the Gazette called and wants to talk about my compensation."
“I’m asking you to release a statement on behalf of the board, backing me completely,” he adds.