The Chief Executivegives details of the company’s performance during the last one year and usually comes up with the
company’s plans and strategies for future development.
AGM is called by the Company Secretary;
Finance Director and his team members are the dominant players; the Chief Executive is the central figure for the occasion but the PR can perform well from the background as well as in direct focus of acknowledgement of his role.
Unfortunately, many companies have turned the AGMs to an avoidable farce, an attitude that clearly demonstrates the management’s fear of facing the wrath of the shareholders. There are,
however, many more companies continually seeking new and more effective ways to use an AGM to inform and educate shareholders, earn their confidence, understand investor thinking, explore new
ideas and to introduce new products.
In relation to AGM, the tasks of PR, with adequate management support, are as
follows:
(i) In financial public relations, PR activity must not be restricted to media relations. In
practice, financial PR covers much more than just dealing with a few financial journalists.
Total media relations are of utmost importance but PR can demonstrate its effective role in many other finance-related activities including AGM.
(ii) PR has to realise the importance of making the chairman’s speech reach a much wider audience. It is through this annual statement that PR can project the organisation to the outside world as a dynamic entity, alive towards the welfare of the community at large.
PR takes the initiative to distribute brochures, literature and informative documents highlighting the performance, product, research and further developments. Video presentation is another effective way of attracting shareholders’ attention to the company’s efforts and achievements.
(iii) PR must have good access to the Chief Executive, senior management and the board;otherwise, he may not succeed in his effort to make his role noticeable in AGM matters.
In fact, PR has to develop keen business acumen and be a part of the business group, which handles investors relations programme.
PR can be of immense help for expert guidance in finalising AGM requirements like audio-visuals, agenda preparation, conducting the meeting efficiently, hospitality arrangements, selection of venue, holding exhibition and display and be constantly conscious of public relations aspects of AGM and actually implement them in practice.
(iv) Now comes the question of total media coverage. The shareholders, the larger investor groups, financial analysts, stock market, the management and the employees as well, will expectantly look forward to media reaction to the proceedings of the AGM.
This is a major challenge and opportunity for applying key elements of PR communication at several stages of AGM actively. Any well-planned PR programme will cover media relations, Press-TV-Radio interviews, news releases, and press conferences and follow up or post-
meeting exercises.
The whole operation must be carried out with a practical time commitment
and a clear understanding of the PR objectives.
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