The world’s top media mogul, Rupert Murdoch, is getting scorched and needs to act quickly to avoid further disaster involving his corporation’s notorious phone hacking scandal.
First, if he knew about the phone hacking, he has to resign now. There is no comeback from such inexcusable conduct. His corporation’s stock is nosediving and he himself would take huge financial losses for any further delay.
If he was unaware of the hacking, this is my advice to help save his skin, if possible. His apology letter left too many unanswered questions and did not show enough personal contrition. Here’s a recommended path of action:
1- Prove he is personally appalled by what happened
2- Explain how this could possibly happen
3- Explain what he knew and when did he know it
4- Make amends to those harmed
5- Present a plan to ensure this will never happen again
6- Rally those willing to speak up for him
7- Have others highlight the hypocrisy of some of his critic/competitors mainly interested in taking out an old rival.
8 – Hope for another big story to surface.