A letter from the president: seduction, charm and obfuscation in French CEO letters

International audiencePurpose Shareholders, investors and potential employees, all attach special importance to understanding a company through its annual report, the status of which has evolved over the years: from providing information for the adepts of competitive intelligence, it now provides information available to all stakeholders in the company. But one aspect has not changed: the keynote message of the president that prefaces the annual report. The present article indicates current practice in the matter in the case of 28 leading French companies. Design/methodology/approach We have made these companies the subject of a systematic and detailed computer‐assisted analysis. Findings Among the main conclusions to be noted are: a varied range of rhetorical cosmetics by way of embellishment, and attitudes either of prudence or optimism on the part of company heads; a type of discourse open to several levels of interpretation: from a literal level to a level allowing the reader to interpret the wider spirit and intention of the document. Originality/value In view of the time devoted to the preparation and fine‐tuning of a presidential letter, we feel justified in writing a modest letter of recommendations for the attention of the president at the end of this contribution