Integrity in Corporate America

I was reading an article about John Mack the CEO of CSFB (a very large bank) in the September 1 issue of Fortune magazine. Mr. Mack was brought into the company to turn it around after a series of bad business decisions and corporate scandals.

The article shows him as being an ethical man, seemingly rare in today’s evironment of regulatory investigations. He is directing employees to cooperate fully with investigators. When an issue comes up that may be of interest to regulatory agencies, he is proactive in notifying them of any problems. He has been able to get top executives to actually give up hundreds of millions of dollars in guaranteed cash payments – a marked contrast to other firms that are giving executives over priced salary packages.

That is all well and good, but you know what makes this man qualified to be an ethical leader? It turns out he has been married to one woman for 30 years. Doesn’t this indicate how important a person’s family life is when judging his character? If he can keep his commitments to his wife, surely he is much more likely to keep his promises to coworkers, employees, and shareholders.