CEO Unmoved By Hepburn’s Lessons
ations and to generally maintain a sound position in relation to changing conditions is subject to significant economic and competitive risks.
Katherine: Mr. Castle, you have made a grave mistake by lying about two important points in your SEC disclosure - can you explain your actions?
Mr. Castle: I simply saw an opportunity to make some short-term gains that would benefit myself and the company. If I hadn’t lied, we wouldn’t have been able to achieve the goals that I had set out.
Katherine: One of the most powerful lessons I have learnt in my life is that character is everything, and it is of utmost importance that we stay true to ourselves. Lying can never be a wise or moral decision, no matter how much you strive for success.
Mr. Castle: I’m the CEO, and I didn’t lie so that I could be more successful. I lied so that I could increase shareholder value and bring in more money to this company. That is the goal of a CEO, and I have not done anything wrong.
Katherine: Ideally yes, a CEO’s goal is to bring in more money, but never at the cost of your integrity and reputation. No amount of money can make up for losing the trust of your shareholders.
Mr. Castle: I don’t appreciate you lecturing me on morality. I have been a successful businessman for many years, and I know what I am doing. This is a decision that I believe is in the best interest of my company and I stand by it.
Katherine: But if you had simply been honest, you would still be in a beneficial situation, as the trustworthiness of your shareholders is invaluable.
Mr. Castle: I’m not going to sit here and listen to you lecture me about morals when I have made a sound business decision. If you think that your personal experiences are more valuable than my years of business experience, then that’s your problem.
Original Release: https://www.globenewswire.com/news-release/2023/02/15/2608702/0/en/Southern-Michigan-Bancorp-Inc-Announces-Fourth-Quarter-and-Full-Year-2022-Earnings.html