Shareholder Question: Why update now?

QUESTION

  • Why did you blog the update today instead of waiting longer?  You killed the rally.

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ANSWER

In life, truth can be inconvenient.  When I was told this morning by the two retailers with whom follow-ups were being conducted, that there was more waiting ahead, it was clear to me that shareholders deserved to know.   Both retailers had already passed their own deadlines; deadlines that were given to us for planning purposes by them, a number of times. Those were the dates by which we could begin making proper arrangements. 

If I were to conceal, for personal convenience, a clear statement from both companies this morning that there is more waiting ahead (rather than the shelf deployment of 1000+ Stain Remover proceeding across those chains at this time ), it would be a violation of everything this company stands for in its relationship to shareholders. 

We are building a brand, with all of its hurdles and opportunities.  Our stakeholders need to be able to depend on me for an honest assessment of the situation, based on known facts.  Plenty of people talk about integrity – a willingness to suffer from honesty is the mark of integrity. 

If this willingness to care about integrity were more widespread in executive ranks, all of the worst ethics violations in corporate history could have been avoided.  There is no shame in striving to overcome obstacles.  Setbacks by themselves don’t create corporate scandals, and don’t bring companies down.  It’s the cover-up, or knowing misrepresentation, that violates people’s trust, and therefore undermines the company, and society, more.

I am proud of the fact that this company’s critics can, at worst, point to goals that have not YET been attained as their most serious complaint.  With Winning Brands, people who are familiar with the company’s official statements, have always known where they stand according to the best information available at the time, and can make their informed choices accordingly.

Our lead brand, 1000+ Stain Remover, and our company, will continue to progress and will one day be seen as a study in dogged perseverance against all odds, leading to success with honour.

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