Holding statement
A short, pre-prepared statement a company issues in the first hours of a crisis, before all the facts are known.
A holding statement is not meant to answer every question. Its job is to show that the company is aware of the matter, takes it seriously and is acting. It usually runs to a few sentences: what has happened, to the extent confirmed, what the company has already done, what it will do next and when it will provide an update.
The most useful holding statements are drafted in advance for scenarios that are realistic in the sector: an accident on site, a data breach, a product recall, the arrest of a board member. When a crisis breaks, the draft only needs completing and reviewing with a lawyer, rather than being written from scratch under time pressure.
For the board, it is above all a decision about tone. It is wise to avoid both ‘no comment’ and speculation about causes. If people have been harmed, their situation should come first in the statement.
Let’s talk about your situation.
The first conversation is free of charge and confidential. We reply within one business day.