CASE STUDY
LifeSci Advisors
The Challenge
LifeSci Advisors, a company in the life sciences industry, suffered a major crisis when they were criticized by women CEOs in major media outlets for attempting to diversify an investors relations party mostly attended by men by hiring runway models to pass out champagne. The company lost a significant amount of business when the criticism went viral. The life sciences industry lacks any real gender diversity. The company hired TASC to help mitigate the crisis, restore its business and launch an authentic campaign to turn the company into a leader and change agent on the issue.
Our Strategy
TASC recommended that LifeSci immediately create an advisory board made up of the women CEOs who criticized the company to guide its efforts and support programs for women in the industry. LifeSci launched its own Board Placement Initiative (BPI) to place more women leaders on corporate boards. The company also supported a summer STEM program for girls and forged a partnership to support a board training program to prepare women executives for board service. The company’s CEO, Michael Rice, spoke at gender diversity panels nationwide, positioning him as a thought leader on the issue. TASC worked to generate positive press attention for the company’s activities and for Rice.
Results
In a two-year period, TASC secured dozens of major media hits in life science industry trades, which helped secure industry support for LifeSci’s efforts and improve the reputation of the company. In its first year, the company’s Board Placement Initiative built a database of over 800 qualified women executives, and placed nearly 20 women on boards of life sciences companies. One year after being criticized, the company received positive press for its work on gender diversity. Perhaps most notably, over the course of two years, LifeSci’s most vocal critics became allies in the company’s gender diversity activities. TASC’s efforts also helped LifeSci’s business to return and become an influential force in the gender diversity space.
100+
MEDIA PLACEMENTS
MEDIA COVERAGE
