The Center for Values-Based Leadership Asks CEOs of Major Corporations Critical Questions

In its first annual forum on the state of integrity, trust and leadership in contemporary society, The Center for Values-Based Leadership brought together a broad spectrum of business leaders to discuss the state of ethical practices in today's workplace. Moderated by Thomas W. Dunfee, Vice Dean of the Undergraduate Division at the Wharton SChool, the panel included Michael J. Critelli, Chairman and CEO of Pitney Bowes Inc.; John Dimling, Chairman of Nielsen Media REsearch; William, J. Morin, CEO of WJM Associates, Inc.; Vikki Pryor, President and CEO of SBLI USA; and Dominic A. Tarantino, retired Chariman of Price Waterhouse World Firm. Ltd. An overflow audience listened to corporate leaders comment upon the current state of principle-based culture in todays business climate.

FAIRFIELD, Conn., May 28, 2002 -- What promised to be an intriguing afternoon considering the state of leadership in business turned into a dynamic evaluation of the importance of trust and integrity at The Center for Values-Based Leaderships first annual forum, Leadership and Trust: Cynical Valley?", at Sacred Heart University.
   An audience composed of high-level business and academic leaders heard a spirited discussion that covered a variety of the most timely concerns of both business and the public.
   In a business atmosphere where industry leaders are being knocked off their pedestals faster than Soviet leaders after the fall of the Berlin wall," according to panel moderator Thomas W. Dunfee, Vice Dean and Director of the Undergraduate Division at the Wharton School, corporate icons turn into the focus of investigation and auditing like never before in history."
   The panelists included Michael J. Critelli, Chairman and CEO of Pitney Bowes Inc.; John Dimling, Chairman of Nielsen Media Research; William J. Morin, CEO of WJM Associates, Inc. and Founder and former CEO of Drake Beam Morin; Vikki L. Pryor, President and CEO of SBLI USA; and Dominic A. Tarantino, retired Chairman of Price Waterhouse World Firm, Ltd.
   The group cited the recent difficulties of such diverse companies as Enron, Merrill Lynch, Rite-Aid, Southebys and Arthur Andersen as examples of how far companies who compound their problems by not recognizing and admitting to mistakes that have been made have fallen. They pointed to the trust of both employees and shareholders as the cement that holds companies together," according to Dominic Tarantino.
   Throughout the session, the focus of the discussion repeatedly turned to the importance of values at the heart of an organization, as well as top-management leadership that recognizes the value of doing what you think is right, being honest and holding up models of people doing the right thing and making the right choices," according to Vikki L. Pryor of SBLI USA. Being an effective leader is more than developing sales and revenues. It also includes treating people with respect and dignity, managing wisely and following both the letter and the spirit of the law," Ms. Pryor continued.
   The issue of balancing diverse demands while being aware of the core values that form the culture of an organization was also examined. The panelists referenced some recent cases of ethical issues regarding management buying and selling of stock, exercising options and not being required to disclose their activities to the public. Michael Critelli, of Pitney Bowes, mentioned the effect that disclosure could have in the

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value of a stock. He noted that a stock may come down if you tell the truth, but it will come back. Your credibility, on the other hand, wont."
   The need for senior executive leaders who have both insight and core values was also raised, and nowhere was the current ethical crisis more visible. The very nature of business seems to be changing, the panel indicated. The vulnerability of companies like Barings Bank, brought down by a rogue trader, or the fate of Enron, possibly fodder for the most extreme business ethics case in history," according to Thomas Dunfee, are examples where dynamic leadership was needed.
   We have to recognize the need for leaders who create an environment that avoids precursive statements that diminish employees. We must recognize that times have changed and the days when great leaders got the idea across that the company had the employees best interests are heart" is no longer a given, said William J. Morin, and what takes you to the top doesnt keep you there."
   Increasingly the discussion returned to the necessity of cultures based on core values in the workplace, and the role that principles must play in leadership. Indicating the importance of trust and ethics in media research, John Dimling used Nielsen Media Research as an example of how important these two qualities are. Nielsen sells integrity," he noted, and clients may question our accomplishments, but not our ethics."
   In a far-ranging question and answer period that followed the panel discussion, it became clear that The Center for Values-Based Leaderships mission of providing a forum for fostering and developing leaders who combine a strong sense of values with compelling view of the future, is an organization whose time has come.
William T. Redgate, Founder and Director, indicated that the range of services that The Center for Values-Based leadership offers to its member organizations and individuals is comprehensive. In addition to continuing to present timely and important forums like 'Cynical Valley, we offer educational programs and events, research on best practices and trends, and information resources. We also have assessment, coaching and consulting services available, and the opportunity to confer with peers who have the same concerns and share an interest in fostering values-based cultures."
For more information about The Center for Values-Based Leadership, contact Bill Redgate at 203-319-0069 or via e-mail at Redgatew@sacredheart.edu.

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