Reference no: EM132814195

You are the Head of Public and Investor Relations for Bank of Montréal (BMO), in charge of communicating with the investment community (financial analysts, shareholders, potential investors) but also with other stakeholders such as the general public and the media. It is 9 AM Monday morning and you have just received a phone call from the Chief Executive Officer (CEO). Without concealing her panic, the CEO told you that the information technology (IT) team found out in the early hours that the Bank suffered a cybersecurity attack that targeted personal bank accounts and credit card information. Preliminary reports show that the private details of about 2 million customers have been hacked, with this figure likely to rise further as the IT team uncovers the extent of the attack. Other than you, the CEO, and the IT team, no one else is currently aware of the cyber-attack.

Required:

Problem 1: Using the concepts and theories studied in the course, design a corporate disclosure and communication plan addressing this extraordinary situation that you will present to the CEO. Consider the disclosure channel(s), the message, the timeline of disclosure, any relevant ethical issues, as well as the likely reaction of the various stakeholder groups that your communication plan targets. Explain and motivate your choices.