Chief legal officers should anticipate an increasing need to advise their CEOs on the advantages and disadvantages of public comments on the leading political, economic, public health and social issues of the day.
In a subtle shift from historical practice, CEOs across industry sectors have, in the last year, demonstrated a greater willingness to take public positions on public policy issues and related concerns. This has especially been the case with respect to developments impacting social justice, systemic racism, immigration, gun control, diversity, gender equality, homelessness and similar hot button topics.
Yet such public positioning is not without significant reputational, performance and perhaps legal risk to the CEO and to the company. Such comments can disturb relationships with the board, confuse other members of the management team, undermine corporate relationships with legislators, and affect consumer preferences.
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