Final Word from Tuesday, June 22, 2021



As Petr Kellner's wife, Renáta Kellnerová didn't need to worry much about reputational risk. Her husband was usually able to stifle criticism of his business practices and thereby protect his family from the fallout. This changed abruptly with Kellner's death. Not only did the fear factor in the media decline substantially, but Sup. Board Chair František Dostálek of PPF Group even threw open the door to scrutiny by revealing in interviews in LN and Deník N that morality played little role in Kellner's business decisions. As Kellner's widow, Renáta Kellnerová must now start paying close attention to the reputational risk. Her husband apparently left no will, and she is the executor of the estate and main heir. She, and she alone, is now making the moral calls. If the markets and media perceive the takeover of Moneta to be another of PPF's unscrupulous moves, it is not Petr Kellner who will take the blow. It is Renáta Kellnerová. For her, today's vote on Moneta is a life decision. [ Czech Republic Money Bank swap exchange supervisory Livodé noviny ]

Glossary of difficult words


to stifle - to prevent or constrain (an activity or idea); to suffocate (someone or something);

fallout - the adverse results of a situation or action;

fear factor - a feeling of apprehension or fear, usually viewed as a reason not to do something;

scrutiny - critical observation or examination;

will - a legal document containing instructions as to what should be done with one's money and property after one's death;

to make a/the call - to make a/the decision;

to perceive - to interpret or regard (someone or something) in a particular way;

unscrupulous - having or showing no moral principles; not honest or fair.

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