BulletProofBlog the blog on crisis communications

In years past, the World Economic Forum meetings in Davos, Switzerland was a chance for CEOs to hit the slopes and hobnob with movie stars, musicians, and supermodels. Last year, in the midst of the worst financial crisis since the Great Depression, that changed. With Congress, investors, and the public at large up in arms over the luxuries that defined excess, many corporate leaders wisely chose to stay home.

How soon they forget.

While this year’s gathering in the Swiss Alps ended on Sunday, the reputational costs for bigwigs in financial services and other industries that made the trip this year may linger for quite a while. As I told Reuters in an article published before the meetings began, hanging out with Bono is not where a CEO wants to be seen at times like these – given that such images only reinforce the “fat-cat” perception that is the driver of unprecedented criticism of corporate leaders today – and the rhetorical grist for politicians on both sides of the aisle.

For the CEOs that returned from Davos this week – such as Citigroup’s Vikram Pandit and Bank of America’s Brian Moynihan – the time is now to identify and then communicate the tangible business value of their participation. Lessons learned, a more fulsome global approach, and better regulatory structures are just three possible themes they can embrace.

Historically, these gatherings have proven valuable and the intellectual exchanges helpful. For that reputation to continue, participants now have the opportunity to make clear the resulting tangible benefits.

Michael W. Robinson is Senior Vice President and Chair of the Corporate Practice at Levick Strategic Communications, the nation's top crisis communications firm, and a contributing author to Bulletproof Blog. Connect with Levick on Twitter: @Levick.