Attaining Legitimacy in Defiance of a Tarnished Reputation

Abstract: PJSC Gazprom is one of the largest oil and gas companies in the world, but has a tarnished reputation and some critics question its corporate legitimacy. Using the moral foundations theory as a basis, a thematic content analysis was conducted to examine PJSC Gazprom’s efforts to support its reputation and legitimacy. The study focused on the company’s self-portrayal in five annual reports from years characterized by different circumstances. The results were used to analyse the company’s strategy for attaining legitimacy and promote its reputation among its stakeholders and on the energy market. The study found that the internal stakeholders’ perceptions are cultivated by Gazprom communicating a comprehensive approach regarding its internal social policies, emphasizing extensive human resource initiatives as a competitive advantage on the labour market. To its external stakeholders, PJSC Gazprom portrays itself as a morally conscious company with a genuine focus on lowering its environmental footprint and implementing impactful CSR initiatives. The study found that the company’s communication strategy surrounding its board of directors fiduciary duty, and improving its corporate governance system, has changed over time by shifting focus from complying with international norms to emphasizing Russian norms as key to success.