Lessons from a backlash over a CEO’s sexist comments

[bishopp135]

Lessons from a backlash over a CEO’s sexist comments

Damage to trans-Tasman group DGL shows the reputational risks for a company where a leader is dominant

www.ft.com

A controversy over misogynistic comments by the founder of Trans-Tasman chemical logistics and manufacturing company DGL shows how damaging it can be to a listed company when its chief executive goes rogue.

The comments drew flak from Kiwi prime minister Jacinda Ardern, triggered a sharp share price slide and may have even contributed to delisting of the company from New Zealand's stock exchange.

It started like this. Simon Henry, the founder and controlling shareholder in the company once known as Dangerous Goods Logistics, gave an extraordinary interview with the National Business Review, which compiles New Zealand's rich list.

Henry opted to compare his fast-growing business to the meal kit delivery business My Food Bag, which had floated at the same time as DGL but which had since nearly halved in value. He aimed his barbs in particular at My Food Bag's founder Nadia Lim, who, he said, had used her "sensuality" to sell the company.

"I can tell you, and you can quote me," Henry told the NBR reporter, "when you've got Nadia Lim, when you've got a little bit of Eurasian fluff in the middle of your prospectus with a blouse unbuttoned showing some cleavage, and that's what it takes to sell your scrip, then you know you're in trouble."

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Woke capitalism gone mad.

 

[Paroni]

It seems to always be a total surprise to these people that there is a backlash to their bullshit. You would think that business leaders have enough situational awareness to at least pretend to not be misogynists in front of media.

 

[Spring-Loaded]

It seems to always be a total surprise to these people that there is a backlash to their bullshit. You would think that business leaders have enough situational awareness to at least pretend to not be misogynists in front of media.

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It speaks to the unfathomable (for the average person, at least) degree to which these people have truly been sheltered their entire lives.

 

[krazen]

It speaks to the unfathomable (for the average person, at least) degree to which these people have truly been sheltered their entire lives.

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Yup. With many of these cases obv. people
have terrible views but what is shocking is just how comfortable people are throwing them around? Which makes sense because they've never had to actually deal with reprecussions because they are immune.

Imagine you're the CEO of a major listed corporation and you're giving an interview representing said company and you're talking about the breasts of a competitor? Like what braincell saw that thought and was like 'Cool, let that one go out into the world'.

Like who did you hang out with in college, co workers early in your career, dealing with employees, dealing with family (are you bringing up someone titties randomly at the dinner table with your moms?)

Like no one is like stfu?

 

[NosgothNihilist]

I can tell you and you can quote me, when you've got Simon Henry, when you've got an out of touch CEO, in the middle of your prospectus, showing himself with sexist remarks, and that's what it takes to sell your scrip, then you know you're in trouble.