This is one thing I learned once making it to senior management, that is ... have a set of go-to phrases to use under various scenarios. You not only sound more credible, it reduces a lot of stress having to fumble for words.
Still, the most important thing is not WHAT to say, but rather, what you are going to DO about it.
Nobody wants to hear "We will evaluate the program." You are expected to do that. I'd much rather hear, "Our results are below our expectations. To address that, we are hiring new, more experienced coaches, we are scaling back all branding and non-competitive activities, and we will hold an after action review with the entire coaching staff following every game. In addition, I have organized a council of former GT coaches, including coaches Curry, Ross, O'Leary and CPJ as senior contributors and will hold monthly discussion sessions with them for additional perspective."
That's a far sight better than "I've got my man!"