Corporate compliance is a “wicked problem”: one with many moving parts, where there is no single effective solution, the law of unintended consequences applies, and the solution itself is a never-ending process. Nowhere is this wickedness more apparent than in the delicate relationship between the board of directors and senior executive management, where the board must simultaneously pursue two dissonant, yet equally critical, tasks: it must enlist, support and utterly depend on the C-suite to develop a culture of integrity throughout the organization; but it must also monitor and enforce compliance within the C-suite itself.
In an essay published by Corporate Counsel last June, “Only the Right CEO Can Create a Culture of Integrity,” Ben Heineman Jr. addressed the first of these tasks. He stressed the CEO’s indispensable role in building a high-integrity organizational culture, based on shared principles and practices that influence how people feel, think and behave: “[S]uccess in this core task depends mightily on having the right CEO with the right values, energy, and commitment truly to lead the company.” Selecting that CEO, Heineman said, is “the most important” job of the board.
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