A communications strategy for rebuilding a corporate reputation has earned Reuters the top prize in a revitalized awards program of the Arthur W. Page Society.

Replacing the National Award program that had been in place for 13 years, the new Page Principles Award recognizes outstanding communications programs that demonstrate the critical importance of effective communications strategy and execution. As with the National Award, the submissions for the new award must show how the Page Principles played a major role in developing and executing the strategy.

The Page Principles are a group of six tenets of business conduct that reflect the public relations philosophy of Arthur W. Page, who served as vice president of public relations for the American Telephone and Telegraph Company from 1927 to 1946. He was the first person in a public relations position to serve as an officer and member of the board of directors of a major public corporation. He, more than any other individual, is considered to have laid the foundation for the field of corporate public relations.

The Society’s Programs Committee chaired by Richard D. Jernsted selected the Reuters entry from among a strong pool of submissions for the inaugural award and, additionally, voted a Merit Award to MassMutual Financial Group.

The Reuters entry was a classic turnaround story. Riding the crest of the dot-com boom and growth of investment banking in the 90s, Reuters grew rapidly to the point where the editorial side, the best-known part of the business, accounted for less than 10 percent of total profits. Then came the dot-com crash, a deep economic downturn in Reuter’s core financial businesses and stiff competition from Bloomberg. Not only was Reuters hurting financially, public perceptions of Reuters were eroding rapidly.

The turnaround began in the fall of 2002 when Reuters undertook an extensive audit of key stakeholders that helped them rebuild the organization based on customers’ wants and needs. The organization was also refocused with a clearly articulated vision and strategy. By the end of 2003, the situation at Reuters had changed dramatically.

The long-term communications solution that evolved was based on listening uncritically to stakeholders, facing the truth and focusing on the future. The revitalized Reuters described itself as a content provider rather than a technology provider. Furthermore, the content would be “indispensable information” tailored to the way people worked. Using a communications strategy called “Fast Forward,” Reuters was able to unify its words and deeds in marketing, new-product development, corporate communications, internal communications, investor relations and regulatory relations.

A key member of the executive management committee that was responsible for the turnaround was Simon Walker, director of corporate communications for Reuters.

The Merit Award to MassMutual recognizes a unique program that involves giving away one billion dollars in free, term life insurance coverage to working, lower-income families earning less than $40,000 annually. Some 20,000 policies, each with a benefit of $50,000, will be provided to qualifying families. If an insured parent dies during the life of the policy, the $50,000 is deposited in a trust fund to pay solely for the educational expenses of surviving children.

During 2003-04, MassMutual has given away more than 2,200 policies, generating goodwill for local insurance agents who sponsor application meetings. The MassMutual LifeBridge Free Life Insurance program has also generated more than 450 media placements, including national exposure. The nationwide recognition and success of the MassMutual philanthropic program was achieved through an extensive and comprehensive communications effort at both the national and local levels. An important objective was to align MassMutual’s focus on education with one of its primary products, life insurance.

Frances B. Emerson, senior vice president of corporate communications for MassMutual Financial Group, was one of the architects of the communications strategy that supported the LifeBridge program.

The judges for the Page Principles Award were: Richard D. Jernstedt, Fleishman-Hillard; Angela Buonocore, The Pepsi Bottling Group; John A. Koten, The Wordsworth Group, Inc.; Karen J. Lynn, Maytag Corporation; Thomas R. Martin, ITT Industries; James Scofield O’Rourke IV, Ph.D., University of Notre Dame; and Kurt P. Stocker.

About the Arthur W. Page Society

The Arthur W. Page Society is a professional association composed primarily of the chief communications officers (CCOs) of the world's top multinational corporations, and the CEOs of the world's largest public relations agencies. The organization's members also include academics from the leading business and communications schools.

The Page Society is dedicated to strengthening the management policy role of chief communications officers. The Page Society is upheld by management concepts, known as the Page Principles, which have been tested for more than half a century and have earned the support and respect of chief executive officers throughout the country. This year marks the 25th anniversary of the Arthur W. Page Society.