A Transparent Legacy

Higgins, Kevin T.
March 2005
Marketing Management;Mar/Apr2005, Vol. 14 Issue 2, p18
This article presents an interview of Herb Baum, author of the book The Transparent Leader: How to Build a Great Company Through Straight Talk, Openness, and Accountability and president/CEO of Dial Corp. Transparency, for Baum, is always telling the truth, being honest and open about how you run your life and business, and confessing up when you make mistakes. Baum thinks that in corporate America, winning is a value that has to be done in an honest and ethical way. While a few bad apples have polluted the corporate environment have been caught doing the wrong thing, the great bulk of corporate leadership is very open, honest, and ethical about running businesses. On the issue of executive compensation, Baum thinks that there will be a moderation of CEO pay packages as a result of the controversy surrounding audit committees. Reducing the use of stock options is one way of putting a lid on corporate compensation. As regards American Airlines' CEO Don Carty, Baum thinks that he if Carty had been open and honest, he would not have been under fire for receiving a bonus triple his base salary. In the issue of his post at Dial, Baum says that he plans to leave Dial as soon as he finds a replacement.


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