Page 86 - How We Lead Matters

Dear Shareholders

Along with several other CEOs, I was asked to contribute to the book
Building Trust. Here are excerpts from a personal letter I wrote to my com-
pany’s shareholders—my descendants—about the covenant that binds us:

To my children, grandchildren, nephews, nieces and family members
to follow:
We are emerging from a period in American business history in
which obsessive desire for gain led many people to commit acts of
fraud, both overt (for which some may find themselves deservedly in
jail) and moral (which perhaps not technically against the law, were
certainly against the common good). . . .
When you are making a difficult decision, ask yourself if the decision
you’re about to make would show integrity, leadership, caring. And,
if you make that particular decision, will you be giving up on some-
thing you should continue fighting for?
These are indeed hard guidelines to follow when others around you
are ignoring the rules and seem to be besting you. But know this:
Their win will only be temporary. In the end, doing the right thing
will always triumph. It has always been so.

I urge you to always take this long view over one of expedience or
convenience. This may seem like lofty and unrealistic advice, but it
is what our company and our success have been built on for more
than 60 years.
Never forget that your role as a leader is to be a steward for future
generations.
(from Building Trust, the Arthur A. Page Society)

Marilyn Carlson Nelson 69