Cfo Resignation

This memorandum is to outline Cardinal Health’s legal obligation to communicate to the public and describe the value of public communication during the SEC investigation and resignation of our CFO. I also want to make sure you are aware of the balance between calming external stakeholders and ethical consideration of providing all the information that is required by the SEC. Finally, I want to make you conscientious about how the perception of the press release will affect public opinion.

Cardinal Health is a publicly held company so we are required to legally report via a press release the resignation of our CFO. We are also legally required to explain to the public why the CFO resigned and that we are under a SEC investigation. It is critical to communicate with the public so that they can understand why our CFO left and to let them know we will continue to operate under normal circumstances. We will continue to follow SEC guidelines and we had no intention to miss represent our revenue.

The balance between calming external stakeholders and ethical consideration of providing all information is critical. We want to make sure Cardinal Health is doing our due diligence to make sure we turn over all pertinent information to the SEC while calming external stakeholders. The press release will be informative to our stakeholders but also giving reassurance that we will do everything possible to correct this issue immediately.

The perception of the press release can be troubling to the public since there have been other companies with very publicized SEC investigations. The goal is to make sure to let the public know we are doing everything possible to correct any issues and let them know there are a number of investigations that the SEC conducts on a yearly basis. We are confident that even though our CFO has left the company we are still able to operate effectively.

During this transition time I want to explain the value of public...