Each situation must be judged on its own merits. The role of the CEO, in fact, may shift from industry to industry. Nick Ashooh of Niagara Mohawk in Syracuse, New York says that his CEO acts as the company spokesperson in a crisis. Meanwhile, in industries where the crisis is less likely to have life and death consequences, the CEO is noticeably absent. We have media-trained spokespersons for that.
Crises do pass.
Yet, unless a crisis is adeptly handled, it might seem like ages to a corporation's executives and shareholders before news stations and newspapers tire of covering the story and late night television and talk radio hosts move on to new material. And, by then, it may be too late.