Simon Henry is a successful businessman but I believe he knows little about containing and managing reputational risk.
Henry called Nadia Lim "a little bit of Eurasian fluff" for her part in a photo in MFB's prospectus last year. He was being interviewed as a candidate for NBR's RichList.
"I can tell you, and you can quote me. When you've got Nadia Lim, when you've got a little bit of Eurasian fluff in the middle of your prospectus with a blouse unbuttoned showing some cleavage, and that's what it takes to sell your scrip, then you know you're in trouble."
DGL, which Henry, a New Zealander, founded, also listed last year. Apparently, in a bid to explain why DGL had performed better than MFB, he continued: "The uglier the board, the more successful the share".
It's all gone downhill for Henry after the interview received an overwhelming public backlash.
Where are his clever advisers? People who could have acted quickly to develop a media communications strategy and fired off an apology, sincere or otherwise.
Last week the DGL board released a statement saying it had conveyed its "deep disappointment" to Henry following the "disparaging remarks about a female entrepreneur and prominent New Zealand identity, Nadia Lim".
The board said it had made clear to Henry the standards expected of him as a chief executive and that his comments had no place in DGL or the wider community.
"The board will be taking steps to ensure there is no repeat of this incident," it said.
In my opinion, the board should also look at its own actions in this matter.
Henry might be the major shareholder but the board will understand they have a duty to protect the interests of other shareholders too.
All the attention Henry has brought on himself and DGL could have been done and dusted within 24 hours.
Perhaps he's never heard of the Law of Holes: "If you find yourself in a hole, stop digging".
What I find bewildering is that smart white men such as Henry can be so imprudent.
They make these offensive blunders without realising the country has moved on.
Gone are the days when men got away with using sexist, racist and prejudicial language against women.
These rants are called out. Today we stand up and speak up. And the fallout is often not pretty and can be devastating for the perpetrator.
People note the language used and behaviour, and then start to imagine what else lurks beneath the surface.
Henry's is not an isolated incident. Only in his case, in my view, he seems reluctant to take swift action, and now after seven days it's grown legs.
Waiting to see what will happen, hoping it'll all blow over in a couple of days, clearly hasn't worked. It doesn't take an expert to cobble together: "My comments were totally inappropriate and stupid. I realise my remarks will have upset and hurt Ms Lim. I am very sorry for my actions and I sincerely apologise to Ms Lim and her family. I also want to apologise to the thousands of New Zealanders I offended with my remarks. I have let myself down and want to do better in the future. I sincerely thank you all for giving me that chance."
Finish, that's all that's needed. Now Henry should go and ponder on why he felt the need to make those thoughtless comments in the first place.
A six-day delayed, one-sentence written apology sounds, in my view, insincere, lacks awareness of the impact his actions have had and continues to demonstrate a misogynistic mindset.
But this is what really bugs me about this incident. I'm amazed that New Zealanders are amazed by it.
Because this isn't an isolated incident. It's just the most recent one that's come to light.
And it would come to light, wouldn't it, an interview with Henry in the highly respected NBR.
Women, Māori and Pasifika, in particular, experience misogynistic behaviour every day in their workplaces.
Misogyny, like racism, is embedded in our customs and institutions.
It is the social systems and environments where women face hostility and hatred because they are women in a man's world – historical patriarchy.
Misogynists often think they're taking the moral high ground by preserving the status quo that feels right to them.
They want to be socially and morally superior to the women they target.
Henry has learned a hard lesson. Women no longer have a designated lane. We're everywhere and doing very nicely, thank you.
Men in positions of power, such as Henry, need to accept that women can work with them and surpass them without having wronged them.