Good Leadership Requires Executives To Put Themselves Last

This was a great article in terms that it described what it entails to become a good leader: good governance depends primarily on leaders who put integrity and the interests of their companies ahead of their self-interests. The examples of these leaders are willing to grapple with difficult decisions that may involve personal sacrifice, which is a selfless act for the better of the organization. This behavior is definitely opposite of the “Kiss up, kick down” attitude.

Mr. Leven, the finance executive at the Day’s Inn encompassed this description of a “good leader.” Mr. Leven realized the company's cash balance was shrinking and the accounting standards he had long upheld were being undermined by the previous two owners. He discovered this problem first from suppliers, who called to tell him they weren't getting paid, and in the process revealed the new owners weren't paying the franchise fees and mortgage payments they owed. By then he suspected the owners were also embezzling funds from Days Inn's accounts. At this point he was forced to make one of two difficult decisions. After consulting an attorney who told him to resign, Mr. Levin decided to inform his bosses outlining his suspicions. Needless to say, he left the company without any severance pay (a very honorable deed). He landed a new job six months later at Holiday Inn. But he had to take a 25% pay cut and a lower-level position as president of franchising.

The following years, Mr. Tollman and Mr. Hundley were convicted of fraud, conspiracy to commit bank fraud and lying to banks. The charges stemmed from an elaborate scheme in which lenders were defrauded of more than $100 million. I thought Mr. Leven acted with class and sophistication through all chaos and got himself out of the sticky situation gracefully and dignified. After hearing the outcome of his superiors, Mr. Leven says he isn't angry about how things turned out. "I did what I had to do even though it cost me a significant amount of money."