Abstract: Stakeholder perspectives on crisis management provide a useful descriptive framework for analyzing crises and making crisis narratives. However, their actionability for crisis management, i.e. possibility to use stakeholder management models into operational crisis management processes, remains an under-investigated question. The purpose of this article is to discuss the operational value of stakeholder frameworks for crisis management. Drawing on a qualitative case study of a successful crisis management process in a public transportation company, we investigate the activities set up by the crisis cell to manage internal and external stakeholders during the crisis. In our case, successful stakeholder management relied on: 1) good diagnosis capabilities for the design of an appropriate corporate positioning; 2) an ability to manage coherently a set of emerging and heterogeneous issues involving stakeSholders ; 3) the capacity to set up a tightly coupled form of organization, involving both crisis cell members and various anchorage points, i.e. specific actors involved in the project before the crisis, who were already in contact with key stakeholders as part of their day-to-day activities. We then discuss the practical and theoretical implications of this analysis and the potential value stakeholder perspectives for crisis management.